Government urged to send clear signal that New Zealand welcomes foreign investment

by | Apr 10, 2012 | Media Releases

Remove

Foreign investment is vital to the health of the New Zealand economy, says the NZ International Business Forum.

 

“Without foreign direct investment NewZealand lacks the capital to fund export-led growth. Foreign investment is what plugs the gap in our low domestic savings rates. Without it, ratings agencies could react by increasing New Zealand’s (already high) credit risk rating and interest rates will rise” says NZIBFChairman Sir Graeme Harrison.

The New Zealand International Business Forum is a grouping of leaders from the country’s largest internationally focused businesses and the major business associations. NZIBF members represent economic interests with a turnover in excess of NZ$20 billion.

 

Sir Graeme said that Ministers considering the Shanghai Pengxin bid to buy the Crafar Farms needed to send a clear signal that New Zealand welcomes foreign investment.

 

“Foreign investors are prepared to respect the rules but they need predictability and certainty that when conditions are complied with, the investment will be able to proceed. That is why the current uncertain situation with regard to the Crafar Farms is so negative for New Zealand’s interests. It risks detracting from New Zealand’s attractiveness as an investment destination at a time when there is strong competition for foreign investment from other countries”.

 

Sir Graeme also said that NewZealand’s relationship with China was important to the country’s future growth.

 

“Growing foreign investment from China has been rightly signalled as a major objective by the Government in its recently released NZ Inc China Strategy. It is hard to see Chinese investors coming to New Zealand if they can’t be sure they are welcome. The Government needs to use this opportunity to reaffirm that foreign investment is welcome from all sources”.

 

Sir Graeme called for bi-partisan support for an open and welcoming foreign investment regime.

 

“Both major parties are committed to growing the economy through increased exports and international business. Attracting foreign investment is a critical element in the policy mix. Without foreign investment New Zealand as a whole will be poorer”.

REGISTER WITH TRADE WORKS

Register to stay up to date with latest news, as well as saving and discussing articles you’re interested in.

Latest News

AMIDST THE STORM: ABAC MEETS IN AUCKLAND

Perhaps a cyclone was after all a fitting backdrop for the meeting of the APEC Business Advisory Council (ABAC) which was held in Auckland on 12-14 February – the global environment against which the meeting took place is decidedly stormy.  In the event the wind...

A YEAR FOR RECONNECTING

As I write this end of year dispatch, NZIBF is preparing to host the first meeting for 2023 of the APEC Business Advisory Council (ABAC).  We are looking forward to welcoming the 200 or so business leaders and senior officials from APEC member economies across the...

NZ Herald: Time to lift our game in India

Following his recent visit to India our Executive Director Stephen Jacobi penned this article advocating a more strategic approach to the further development of the relationship. The article was published by the NZ Herald on 9 December.

APEC Rolls out Priorities for 2023

Issued by the Informal Senior Officials’ Meeting - Honolulu, The United States, 13 December 2022 Aiming to provide tailwinds for member economies to strengthen recovery and resilience, as well as advance broad-based economic growth, the United States rolled out its...

NZIBF 2022 Chair Report

ANNUAL GENERAL MEETING 2022 CHAIR’S REPORT I am pleased to present my second report on the activities and achievements of the NZ International Business Forum (NZIBF) for 2022-23, our fifteenth year of operations.  At the outset I would like to thank Members for...

NZ BUSINESS LEADERS AT APEC 2022

New Zealand business will be represented at the APEC Leaders’ Week in Bangkok, commencing 13 November, by members of the APEC Business Advisory Council (ABAC). New Zealand’s three members – Rachel Taulelei, Malcolm Johns and Anna Curzon – supported by Stephen Jacobi...

Submission to MFAT for CPTPP Review

30 September 2022 Phil Mellor Economic Division, Ministry of Foreign Affairs and Trade, Wellington (By email) Dear Phil, Thank you for your email of 1 September, seeking our comments on the three year review of the Comprehensive and Progressive Agreement for Trans...