WELLINGTON: New Zealand plans to establish a one-stop shop to bolster foreign direct investment and drive faster economic growth.
Invest New Zealand will streamline its process and provide tailored support to foreign investors, Prime Minister Christopher Luxon said yesterday in his State of the Nation address in Auckland.
It will operate within the existing New Zealand Trade and Enterprise agency before transitioning into a separate Crown entity.
“Invest New Zealand will roll out the welcome mat,” said Luxon.
“The objective is to increase capital investment across a range of critical sectors like banking and fintech, key infrastructure like transport and energy, manufacturing and innovation.”
Luxon has pledged to make economic growth his government’s top priority this year after 2024 was dominated by fiscal and monetary restraint that tipped the nation into recession.
New Zealand’s limited pool of capital means it’s heavily reliant on foreign finance for infrastructure such as highways and renewable power plants. — Bloomberg
