Overseas investment overhaul: NZ means business
BusinessNZ says the Government’s announcement to reform the Overseas Investment Act sends a positive signal to the world, that New Zealand is ready to do business.
Chief Executive Katherine Rich says the old rules made it difficult and uncertain for overseas investors to consider investing here.
“New Zealand’s settings for overseas investment have been some of the most restrictive in the OECD. These rules have held us back from achieving our potential, saying no to investment which has been redirected to other economies.
“BusinessNZ has long advocated for new policy settings to allow us to gain the benefits of overseas capital – to grow businesses and assets and grow New Zealanders’ incomes. We know that Business will be heartened by the moves made today.
“Today’s change in settings for international investment is another positive step in showing the rest of the world that we welcome investment.”
