Transcript Investment - Ministry of Business, Innovation and Employment

Progress highlights
Future Direction 2015
Building a more
productive and
competitive economy
Delivering better public
services within tight
financial constraints
Responsibly managing
the Government’s
finances
Rebuild Christchurch
•
Provides a platform for ongoing communication between business and
government on the Government’s economic work plan
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Sets ambitious targets to focus the direction of the Government’s work
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Holds government agencies to account for delivery of work
The BGA: Towards 2025
report contains
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A market based economy that reflects Kiwi attributes – agile, resourceful,
innovative and world-beating
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Our businesses add greater value to their goods and services – attracting
a premium from our natural resources, intellectual edge and industry
know-how
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We are more internationally connected to reduce the impacts of
distance, and seen as a real hub of talent and ideas for the Asia-Pacific
region
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An economy where all regions and our people have the opportunity to
grow and prosper
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We are one of the most highly-skilled countries in the world, with
ambitious business leaders who make the best of our diversity of talents
and ideas
An economy like this will grow our productivity and our incomes, and deliver
real and ongoing improvements in the quality of life for all New Zealanders.
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We will attract high-quality investment into all parts of New Zealand
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We will grow exports, by developing businesses that are internationally
connected and able to add value to volume and seize opportunities in an
Asia-Pacific centred world
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We will develop New Zealand as a hub for high-value, knowledgeintensive businesses conducting more R & D to lift innovation
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We will have skilled and safe workplaces, where all our people are
equipped with the skills to participate and succeed in our 21st century
economy and society
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In the natural resources area, we will improve the productivity of our
resource-related industries while reducing their environmental impact
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We will provide the right infrastructure at the right time to support
future investment, growth and quality of life
Building Export Markets
Creating businesses that are internationally connected and able to add value to volume and seize
opportunities in an Asia-Pacific centred world
Target: “Increase the ratio of exports to GDP to 40% by 2025”
Progress highlights
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Signing of the Korea-New Zealand FTA
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Increasing the number of companies intensively
serviced by NZTE to a total of 612
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Agreement to explore an upgrade of the ChinaNew Zealand FTA
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Accession to the WTO Government Procurement
Agreement
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Significant growth in the international education
industry to a total value of $2.85 billion
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Significant growth in tourism to a total exceeding
$8 billion for the first time
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Increasing New Zealand’s footprint in the ASEAN
region
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ICT exports have increased in value by $384 million
since 2010
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Concluding an Air Services Agreement with India
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Continuing to roll out Trade Single Window
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Ongoing integration of the NZ Story
Composition of New Zealand exports (Source: Statistics NZ $ billions, March years)
50
Primary products Unprocessed
40
30
Primary products Processed
20
Manufactures Simply transformed
10
Manufactures Elaborately transformed
0
2003
2005
2007
2009
2011
2013
2015
Other
Target: “Create the right business environment and
incentives to encourage New Zealand’s business sector to
increase its expenditure on R&D to 1% of GDP”
• 485 high-tech firms increased their
investment in R&D through government
grants
• Three new technology incubators established
to create new R&D-intensive start-ups
• Committed up to $210 million to extend
ultrafast broadband to cover at least 80% of
New Zealanders.
• Announced that Vodafone, Kathmandu and
Wynyard Group will be anchor tenants at
Christchurch Innovation Precinct
• Allocated $28.6 million over four years for the
ICT graduate school programme
• Launched and implemented six National
Science Challenges in 2014/15
Building Investment
Investment
Innovation
Significantly lift the rate of business investment as a percentage of GDP to accelerate
growth throughout New Zealand
Target: “Significantly lift the rate of business investment as a percentage
of GDP, with an emphasis on attracting capital that generates economic
growth, creates high-value jobs and builds resilience in regions”
Progress highlights
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Completing the overhaul of our financial
markets legislation.
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Bringing the Limited Partnerships
Amendment Act and Companies
Amendment Act into force
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Facilitating the establishment of new public
growth markets
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Supporting the development of equity
crowd-funding
Private non-residential investment as a proportion of GDP
Source: Statistics NZ (December years)
30
25
20
Korea
15
Australia
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Increasing NZX equity market capitalisation
10
New Zealand
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Completing and publishing regional growth
studies
5
United States
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Strengthening our consumer credit laws
0
1973
1978
1983
1988
1993
1998
2003
2008
2013
Building Natural Resources
Investment
Innovation
Improving the productivity of our resource-related industries while
reducing their environmental impact
Target: “The quality of our natural resource base improves over time while Progress highlights
sustaining the growth needed from key sectors to meet our 40% exports to • Announced the creation of a new ocean
sanctuary in the Kermadec region of the South
GDP target”
Pacific ocean
• Opened the first stage of the Central Plains Water
Enhancement Scheme
• Introduced the Environmental Reporting Bill
(passed in September)
• Signed Regional Agreement for New Space
Regional Maori Aquaculture Settlements
• Published growth studies for Northland, Bay of
Plenty and Manawatu–Whanganui that identify
opportunities to sustainably grow regional
incomes, jobs and investment.
• Published a “Guide to Section 32 of the Resource
Management Act”
• In 2014, renewable energy accounted for 80 per
cent of New Zealand’s electricity generation.
• Developed the Māori Agribusiness Pathway to
Improved Productivity programme
Building Skills
Investment
Innovation
Build skills, where all our people are equipped with the skills to participate and
succeed in our 21st century economy and society
Progress highlights
Target: “Materially lift New Zealand’s long-run productivity growth rate
while maintaining our high rate of labour force participation.”
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In 2014 the proportion of 25-34 year-olds with
NZQF Level 4 or higher qualifications was 54.9 per
cent, up from 52.6% in 2012
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Establishment of the first 11 Communities of
Schools and the implementation of the Principals
Recruitment Allowance, to raise quality teaching
and leadership in our schools
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Increasing our investment in apprenticeships
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Targeting intensive services to those clients
identified as having the highest future liability, as
part of the investment approach to welfare
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Holding four job fairs in Perth, Melbourne, Sydney
and Brisbane
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Enabling the supply of the skills needed for the
Canterbury rebuild, through the Canterbury Skills
Shortage List, the Canterbury Skills and Employment
Hub, and the Skills for Canterbury package.
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Enactment of the Employment Relations
Amendment Act in March 2015
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Increasing the size of the Labour Inspectorate
Percentage of population with tertiary education
Percentage of population
Source: Education at a Glance 2014: OECD Indicators
50
45
40
35
30
25
20
15
10
5
0
OECD
average
Denmark
Ireland
Finland
United
Kingdom
New
Zealand
Israel
Building Infrastructure
Investment
Innovation
Providing the right infrastructure at the right time to support future investment,
growth and quality of life
Target: “By 2030, New Zealand’s infrastructure is resilient and coordinated
and contributes to economic growth and increased quality of life”
UFB Rollout as
at June 2015
Progress highlights
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The deployment of ultra-fast broadband
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Strong progress in strengthening our roading
network
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The electrification of Auckland’s metro rail
network
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Establishing a total of 100 Special Housing
Areas across New Zealand
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Securing a sale and development agreement to
construct 237 homes in Christchurch
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Removing regulatory barriers that drive up
costs of construction
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Major progress on the rebuild of Christchurch
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34,000 homes insulated through the Warm Up
New Zealand: Healthy Homes initiative.
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Largely completing $5 billion of investment in
the national electricity grid
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Driving better social housing outcomes