Rt Hon Christopher Luxon
Prime Minister

On the eve of the country’s first Investment Summit, Prime Minister Christopher Luxon says investment into New Zealand will have big payoffs for Kiwis.

“A growing New Zealand economy translates into more jobs, higher wages and better infrastructure – and that makes all New Zealanders better off.

“Overseas investment will see roads and schools built quicker, which will see more people being employed on those projects and business generated in the towns and cities that the new infrastructure serves.

“My message to the companies and individuals attending the Summit over the next two days is New Zealand is open for business.

“The financial companies and institutions attending the summit manage assets and funds worth around $6 trillion of capital and they are coming in from across the globe. These include major banks, sovereign wealth and pension funds.

“A number of investment propositions will be presented over the next two days – including both PPPs and private sector opportunities that are ‘investment ready’. A pipeline of projects will also be presented – highlighting the opportunities available to investors in the coming months and years to come.

“But we also want investors to know that doing business in New Zealand will be as seamless and fast as possible and work has been underway on this since we became government in late 2023.

“Simplifying and streamlining investment in major infrastructure means the roads, renewable energy projects, housing, and health facilities we need are delivered when we need it.

“That is why we have been working to improve the investment landscape since we were elected.

“We have agreed to change the Overseas Investment Act to ensure decisions on all projects aside from residential land, farmland and fishing quota, are made in just 15 days, unless the application could be contrary to New Zealand’s national interest.

“Revenue Minister Simon Watts today announced changes to the Foreign Investment Fund (FIF) to attract migrants and returning Kiwis in the tech and start-up sector. The current rules are a deterrent to staying in New Zealand and we are fixing them.

“We have introduced Fast Track to cut through the thicket of red and green tape around the infrastructure approvals processes that has, until now, held New Zealand back from much-needed economic growth.

“In January we established Invest NZ, a new entity to encourage and promote foreign investment in New Zealand. Modelled off the success of Ireland and Singapore, Invest New Zealand will roll out the welcome mat – streamlining the investment process and providing tailored support to foreign investors.

“Our banking sector is also in for a shakeup. We want more competition and have put the major four Australian banks in New Zealand on notice.

“And, because of this government’s hard choices around the economy, we are winning the battle on inflation, creating a sound, stable platform for business. Two years ago, inflation was at 7.1 per cent. and right now, it is at 2.2 per cent.

“All of this adds up to an environment that is ripe for investment, and we expect the next two days will make that very apparent to those in the room at the Investment Summit.

“To all of you, a warm welcome. Many of you I have met offshore, and it is a pleasure to host you here in New Zealand.

“It’s time to do business.”

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