The New Zealand government has outlined its plans to boost investment and growth, with a focus on making the country more attractive to investors. Prime Minister and Finance Minister Jacinda Ardern says that New Zealand is an undervalued stock with a stable democracy, strong institutions, and abundant natural resources.
Ardern highlighted several key areas for reform, including overseas investment, fast-tracking consenting processes for new projects, and gearing up for a more stable and predictable infrastructure pipeline through public-private partnerships. The government aims to increase foreign direct investment levels, which currently sit at around 40% of GDP compared to the OECD average of 53%.
The Prime Minister also announced plans to change work visa rules to make it easier for employers to get the workers they need, review competition rules to increase competition, and launch a minerals strategy. The government is working on a number of reforms across various departments to drive growth-enhancing reforms.
Ardern stated that New Zealand has been through challenging years but with its safe borders, temperate climate, abundant resources, robust institutions, strong cultural foundations, and best people, the country is well-positioned for growth and prosperity. She expressed gratitude to international guests for choosing New Zealand as a destination for investment and encouraged collaboration to drive value creation.
New Zealand Aims to Boost Investment
Prime Minister Ardern outlines plans to increase foreign direct investment.
The Prime Minister of New Zealand, Jacinda Ardern, has outlined her government's plans to boost foreign direct investment and improve the country's business environment. As Finance Minister, Ardern highlighted the need for more capital investment to drive productivity growth, which has averaged only 0.3 per cent a year over the past decade.
Ardern stated that her government aims to increase New Zealand's attractiveness as a destination for investment by reforming overseas investment settings and streamlining the consenting process for new projects. The government is also planning to implement more Public Private Partnerships (PPPs) to deliver public infrastructure projects.
The Prime Minister emphasized that New Zealand has a stable democracy, safe borders, and abundant resources, making it an attractive place for businesses to invest. She also highlighted the country's strong cultural foundations, robust institutions, and skilled workforce as key advantages.
Ardern noted that her government is committed to driving growth-enhancing reforms across various public policy areas, including changing work visa rules, reviewing competition rules, launching a minerals strategy, and increasing education standards.
The Prime Minister concluded by expressing confidence in New Zealand's future and inviting international investors to join the country on its journey towards growth and development.