This book is only available in PDF format

Authors: Nelson Curry, Pedro Morgan, Vanessa Horne
Published: 20 July 2020
Pages: 38

Introduction

Why New Zealand needs overseas investment

All countries rely on overseas investment as it is a vital contributor to economic growth. Foreign direct investment makes up almost 40% (NZ$113 billion at March 2019) of New Zealand’s economy.

Overseas investment increases the goods and services available to New Zealanders, creates employment and opportunities for our exporters, and enhances the overall wellbeing of New Zealanders. Overseas investment brings new ideas, innovations and relationships that connect us with the world. Post COVID-19 – in what will be a time of rapid economic change – overseas investment will be an important funding source that supports New Zealand businesses to continue to grow and evolve, and keep more New Zealanders in employment.

Globally, New Zealand is seen as an attractive place to do business, with strengths in advanced technology, agriculture production, tourism, a skilled and adaptable workforce, sound infrastructure and very strong public and legal institutions.

Approximately 15% (NZ$15-16 billion at March 2019) of all foreign direct investment into New Zealand goes through the Overseas Investment Office (OIO), which gives effect to and
enforces the Overseas Investment Act.

Many investments approved by the OIO have contributed strongly to the success and growth of New Zealand. This has created economic growth, jobs for New Zealanders and solidified an international reputation that we are an innovative and attractive place to do business. (continued...)

Content outline

• Why had the law changed?
• Summary of the changes
• Temporary notification regime
• Transactions of national interest
• National interest assessment
• Simplified screening regime
• Stronger enforcement powers
• Get more help or contact the Overseas Investment Office