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March 14, 2014

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China, Ireland seek investments under fund

A US$100 million fund set up recently will spur China and Ireland to cooperate to create more opportunities for bilateral investment, an Irish minister said in Shanghai yesterday.

The China Ireland Technology Growth Capital Fund, launched in January, targets companies from Ireland or China operating in the Internet, software, semiconductor and clean technology sectors. The fund will also cover agriculture, food, medical and financial services.

“We are broadening our net beyond traditional investors like the United States to have more dialogue with a number of less traditional partners,” Minister of Public Expenditure and Reform Brendan Howlin said.

“China is such a fast-growing economic giant in the world, and we obviously want to develop closer economic ties with China.”

Backed by Ireland’s National Pensions Reserve Fund and China Investment Corp, the fund marked Ireland’s “substantial and strategic” interest in China, Howlin said.


 

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