(Yicai) Jan. 17 -- Ireland can be the ideal gateway into the global market for the technological advances that are emerging in China, the chief executive of the European country's FDI agency told Yicai at the World Economic Forum.

China has taken a leading position in digitization and sustainable technologies, said IDA Ireland’s Michael Lohan, and it has had more than 40 years of partnership with Ireland. “The key opportunity is to build on that partnership and to look at it from a sustainable perspective,” he said.

Excerpts from the interview appear below.

Yicai: Every country wants to attract firms in the high-tech sector. Why should international investors go to Ireland? What makes Ireland different?

Michael Lohan: Firstly, we are a pro-enterprise, pro-business economy. We have a long track record of success, and this year IDA Ireland celebrated its 75th year of attracting foreign investment to Ireland. So what you get in Ireland is stability, certainty and clarity.

Last year, we had a very strong year with 248 investments into Ireland, including 83 first-time investments. People coming to Ireland for the first time to invest continues to show that Ireland's value proposition resonates with international investors. 

The numbers speak for themselves, reflecting the ongoing success and attractiveness of Ireland as a destination for foreign investment.

Yicai: What kind of trend do you foresee in investments in the high-tech sector in Ireland in the coming years?

Lohan: There are two key areas undergoing changes and evolution. One is the digital transformation, so no matter what business you're in, large, small, multinational or high-tech, they all are going to be impacted by the digital transformation. 

The other area that’s going to see a significant change is the area of sustainability and the green economy. At one level, companies have to look at themselves and see how they can be more efficient and more sustainable in their own investments, [as well as] exploring renewable sources and alternative materials. But secondly, there is a whole emerging market and new enterprise base, which is based on the new technologies that will be required for sustainable industries.

And in Ireland we see that opportunity both to help our existing cohort of companies to transition digitally and sustainably, and also to attract new forms of investment which are wholly focused on sustainable processes and indeed new forms of sustainable energy generation in the future. 

Yicai: How do you see the potential for business and economic cooperation between Ireland and China?  

Lohan: If I speak to those areas I just mentioned, in digital and sustainability terms, these are areas where China has a leading position. In terms of the opportunity as we look to build the relationship, remember there are over four decades of partnership between China and Ireland. 

The key opportunity is to build on that partnership and to look at that from a sustainable perspective because there are technology advancements within China that need to be explored across global markets and Ireland is the right location Chinese firms can look to in terms of expanding into those global markets.

Editor: Tom Litting