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Time for Diaspora to invest in Donegal
 A
Donegal politician has called for formal mechanisms to be put in place
to allow the county’s Diaspora to invest directly into the region.
Donegal North East TD Joe McHugh was speaking after the successful London
launch of the Derry Donegal Diaspora project when he made the claim that
this would stimulate economic growth in the region.
The project launch was held in the Guildhall in the city and took the
form of a networking event.
It was attended by key players from the private and public sectors.
Deputy McHugh said: “Both the event and project behind it are excellent
ideas which in the first instance allow us to tap into the wider Diaspora.
“Many key business people who attended the London event would like
to support economic growth here but we need a tangible means — such
as a funds management scheme — which would allow them to financially
back the region.
“There were people there with money to invest and who would like
to invest in businesses here — particularly when the property market
and the stock market are less attractive.”
The TD also welcomed plans to extend the Diaspora project to the US and
said it could cover places like Dubai, South America and Australia in
the future.
Key players from Donegal who attended the London Diaspora event included
property developers Pat Doherty and Cormac Byrne, Shaun Reddin of RedRay
consulting and Donal Gallagher of Strange Music, who is involved in the
Rory Gallagher Festival in Ballyshannon.
Innovation and business expert Tim Brundle from the University of Ulster
said that the North West region was an ideal landscape for developing
an innovation eco-system.
He said: “The region has several key advantages — its people,
businesses with a hunger for growth and supportive government bodies.”
Diaspora project co-ordinator Ms Aeidín McCarter described the
London event as a great success.
She said: “People could relate immediately to the aims of this project
and understood they had skills, experiences and contacts of value.
“It was important for us to get a good response from London, as
so many of our emigrants are based in England.” |
