The Government has agreed on the next steps to establish Invest New Zealand (Invest NZ), including the agency’s scope and mandate to drive a significant increase in Foreign Direct Investment (FDI) to New Zealand, Trade and Investment Minister Todd McClay announced today.
“Cabinet has directed Invest NZ to provide the certainty international investors need and accelerate international investment into New Zealand to turbo charge growth, and create jobs,” said Mr McClay.
“To deliver economic growth through high-value investment, Invest NZ will be mandated to leverage New Zealand’s competitive advantage, and attract investment to boost businesses and industry.
“Invest NZ will be a one stop shop and a problem solver. If it’s good for New Zealand, and good for New Zealander’s, we will be saying yes to investment.”
Core responsibilities include:
- Attracting FDI to drive economic growth, create high-paying jobs, and enhance New Zealand’s global competitiveness;
- Encouraging multinational corporations (MNCs) to establish operations and conduct research and development (R&D) in New Zealand;
- Streamlining investor engagement, to help businesses navigate regulatory and commercial landscapes while working closely with existing infrastructure investment bodies, such as National Infrastructure Funding and Financing Limited (NIFF);
- Facilitating collaboration between global investors, multinational corporations, New Zealand businesses, and research institutions;
- Providing expert insights to support government policy decisions that enhance New Zealand’s investment climate.
“To deliver these outcomes for the business community, Invest NZ will require a strong performance and renumeration system that recognises achievement,” Mr McClay says.
“We will look to attract the best and brightest from New Zealand and around the world, borrowing the skills, experience, and contacts from the private sector.”
The Minister said the Government will shortly commence the process to recruit a highly-skilled investment specialist with international experience as the Chief Executive, and were working toward the establishment of an executive board.
“By attracting global companies we can grow the economy, provide more opportunities and create more jobs,” Mr McClay said.
