Ireland welcomes Chinese investment, tourists _Macro-Economy--China Economic Net
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Ireland welcomes Chinese investment, tourists
Last Updated(Beijing Time):2011-05-28 14:49
To restore Ireland's crisis-stricken economy, the island nation is looking for investment and tourists from China, which has overtaken Japan as the world's second largest economy, an Irish cabinet minister said Friday.

"I do and I would welcome Chinese investment," said Phil Hogan, Irish minister for environment, community and local government.

"Ireland is on the gateway of the European Union (EU), where there's a market with 500 million population. We have a low corporation tax base, we've a highly skilled labor force and we've a good quality environment and good quality infrastructure," Hogan told Xinhua in his hometown Kilkenny, 120 km from Ireland's capital Dublin.

He said Chinese companies would find that his country has a "very resilient labor force," and that Irish workers are well educated and have the necessary skills. Hogan added that foreign investment has become quite important for Ireland since its financial bailout in late November last year.

"We are conscious of the fact that we need to generate an economic stimulus at the local, national and international level in Ireland at the moment, and that's what Taoiseach (Irish prime minister) has been at the forefront in trying to achieve," he said.

He said Ireland is negotiating with its European partners to maintain its controversial 12.5 percent corporation tax rate, and is working to reduce taxes on labor and tourism.

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