The Government has launched Invest New Zealand, a new initiative aimed at making New Zealand a top destination for foreign direct investment (FDI). This agency will focus on attracting capital to critical infrastructure, fostering innovation, increasing R&D, and enhancing global connections. Incubated within New Zealand Trade and Enterprise (NZTE), it will transition into an autonomous agency to drive international investment and economic growth.
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David Seymour, Associate Minister of Finance, expressed optimism about the uptick in foreign investment applications following reforms aimed at expediting the overseas investment process in New Zealand. As part of these reforms, a new directive was issued to Land Information New Zealand (LINZ), mandating that 80% of consent applications be processed in half the statutory timeframe.
This initiative has already shown results, with a noticeable increase in investment applications and quicker decision times, underscoring the government’s strategy to make New Zealand a more attractive investment destination.