New Zealand’s government has announced the establishment of Invest New Zealand, a new agency aimed at streamlining foreign direct investment (FDI) processes to bolster the nation’s economy.
Trade and Investment Minister Todd McClay stated that the agency will “streamline the investment process and provide tailored support to foreign investors, to increase capital investment across critical infrastructure, fostering greater innovation in key sectors and attracting world-class talent to our shores.”
Modelled on successful practices from Ireland and Singapore, Invest New Zealand will focus on:
- Attracting FDI into high-potential sectors to boost productivity and innovation.
- Streamlining processes to significantly increase the capital available for new and existing projects, including banking, fintech, critical infrastructure, manufacturing, and private sector growth.
- Increasing research and development investment in New Zealand by multinational companies.
- Encouraging skilled professionals to enhance domestic capabilities and global connections.
Initially incubating within New Zealand Trade and Enterprise (NZTE), Invest New Zealand will transition into an Autonomous Crown Entity with a clear mandate to attract international capital and expertise.
This initiative comes as New Zealand seeks to recover from a deeper-than-expected recession in the third quarter.
The government aims to unlock global investment opportunities and make New Zealand a more attractive destination for investors.
“With Invest New Zealand leading the charge, we’re rolling out the welcome mat to the world,” McClay added.