Source: New Zealand Government
Trade and Investment Minister Todd McClay has today set the scope of the country’s investment agency, Invest New Zealand, announcing strategic growth areas and launching three investment prospectuses.
“New Zealand has underachieved in attracting foreign investment, and this dedicated agency is key to us achieving more. More capital means stronger business, more jobs and a growing economy,” Mr McClay says.
New Zealand’s stock of Foreign Direct Investment (FDI) amounts to 37% of GDP compared to an OECD average of 53%. Annual net inflows of FDI are 1.4% of GDP, placing New Zealand 31st out of 38 OECD countries.
InvestNZ will target investments in the range of $100 million to $1 billion as well as projects from $20 million that have the ability to scale. It will act as a bridge for local investors, connecting domestic business with high-value investment opportunities, and ensuring the Active Investor Plus scheme delivers for the New Zealand economy.
“The agency will also advise the government on policy and regulatory settings to support New Zealand as a globally competitive place to invest,” Mr McClay says.
InvestNZ will prioritise six new strategic growth areas:
- Private infrastructure,
- Renewable energy
- Data infrastructure
- Digitisation and Artificial Intelligence
- Technology including AgTech, MedTech, and SpaceTech
- Advanced manufacturing and processing facilities
Speaking to a business audience hosted by the Auckland Business Chamber, Mr McClay launched three investment prospectuses supporting strong regional sectors of the economy: Tourism; Wood Processing; and Innovative Food Production.
“These are sectors where New Zealand has a competitive edge and a compelling growth story.
“The prospectuses are demonstrating to the world’s investors we are open for business, ready to scale up and take advantage of new opportunities.”
The prospectuses are available on the InvestNZ website via: https://www.nzte.govt.nz/page/wood-processing