At a time when the US and Europe are growing increasingly cautious toward Chinese capital, Ireland’s most influential business organization—the Dublin Chamber of Commerce—has publicly declared a clear welcome for Chinese enterprises to invest locally. In a recent interview with Hong Kong media outlet South China Morning Post, the Chamber’s CEO, Mary Burke, emphasized that even amid EU regulatory pressure and the competitive dynamic between the US and China, Ireland would firmly pursue an open business policy within the framework of EU rules.
“Since there have already been Chinese enterprises successfully investing in Ireland, and Irish companies are also establishing themselves in China, I believe there is no factor that will completely overturn this dynamic or weaken the mutual appeal for both countries’ enterprises to explore cooperative opportunities,” Burke said, indicating that Ireland is striving to seek an independent economic path amid the US-China rivalry.
Data shows that despite ongoing trade tensions between China and the US/Europe, Chinese direct investment in Ireland has seen explosive growth. According to statistics from China’s Ministry of Commerce, in 2023, Chinese direct investment to Ireland reached $380 million (1.57 billion ringgit), a surge of 265% over the previous year; in 2024, the growth rate hit another record high, rising by 172%, with investment volume approaching $1.04 billion (4.297 billion ringgit).
For specific examples, in 2022, Huawei announced a €150 million (718 million ringgit) investment to establish a European cloud business hub in Dublin; TikTok’s parent company ByteDance also chose Ireland in 2023 as the location for its first European data center, responding to the EU’s concerns on user data protection. Burke revealed that the Industrial Development Agency of Ireland, which is responsible for promoting foreign direct investment, is currently serving about 40 Chinese client companies, with investment spanning multiple pillar industries, including technology and pharmaceuticals.
Ireland’s open attitude toward Chinese capital has been established amid a complex internal and external environment. Economically, Ireland is deeply bound to the United States, with tech giants such as Google, Meta, and Apple all setting up regional headquarters in the country. The American Chamber of Commerce last year warned Ireland, claiming that commercial engagement with China poses “national security risks” and accused China of “unfair competition.”
At the same time, pressure from the EU cannot be ignored. As global trade tensions intensify, the European Commission’s scrutiny of Chinese investments in Europe has become increasingly strict. In response, Burke warned that trade friction and supply chain risks could become long-term challenges, and that Ireland needs to learn to adapt and seek opportunities amid these challenges. She admitted that as an EU member state, Ireland is unlikely to go against the EU’s policy standards, but can proactively voice its views to help formulate reasonable and appropriate regulatory rules.
This position is also reflected in the concrete implementation of policies. In 2020, after the EU adopted the "5G Network Security Toolbox," countries like France and Germany immediately listed Huawei and ZTE as “high national security risk” providers; while Ireland published legislation in 2023 granting the government greater powers to implement stricter measures in electronic communications network security, it has not issued an official ban or phase-out plan targeting Chinese companies like Huawei.