Ireland Eyes Middle East Sovereign Wealth Funds for Infrastructure Investment Amid Population Growth
Ireland is actively pursuing investments from sovereign wealth funds in the Middle East to bolster its infrastructure projects amid rapid population growth. Minister of Enterprise, Trade, and Employment, Simon Coveney, is currently engaging with potential investors in the Gulf region, including visits to the United Arab Emirates, Saudi Arabia, and Kuwait.
In an interview at a World Trade Organisation meeting in Abu Dhabi, Minister Coveney emphasised Ireland’s openness to strategic partnerships for investments. He highlighted the attractiveness of Ireland’s economy, citing strong economic growth and consistent trade surpluses.
The Minister underscored Ireland’s domestic funding options, including plans for a €100 billion sovereign wealth fund and a €14 billion infrastructure and climate fund. He noted the significant increase in trade with the UAE and Saudi Arabia, signalling potential investment opportunities from Gulf funds in Ireland.
Given Ireland’s pressing infrastructure needs, such as offshore wind, electricity grids, public transport, road infrastructure, and housing, Minister Coveney emphasised the urgency to keep pace with the country’s fast-growing and youthful population.
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