In a bid to attract more foreign investment into New Zealand’s technology sector Economic Development Minister Steven Joyce and Communications Minister Amy Adams have launched a 36 page Investor Guide to the New Zealand Technology Sector.
It has been produced by Technology Investment Network (TIN) and the Ministry of Business, Innovation and Employment (MBIE) and “showcases why New Zealand has a unique and flourishing tech sector which is ready for more investment.”
It claims to “provide investors with the most recent data and insights to encourage them to make informed investments in New Zealand’s thriving technology sector.”
To make its case it draws on the annual TIN100 Report (www.tin100.com), which provides detailed information on the performance of the country's technology companies, and the New Zealand Technology Industry Association's Digital Nation New Zealand Report (July 2016).
Joyce said the tech sector was already “effectively” New Zealand’s third largest export earner. “It accounts for eight percent of our GDP, which is more than $16 billion dollars, and the opportunity for growth is huge.” The sector accounts for nine percent ($6.3b) of total exports.
A copy of the guide is available here. It gives the main reasons to invest in New Zealand technology sector as being that the country is centrally positioned and globally connected. “New Zealand provides a great base from which to export globally with connections to North American and Asian markets. The country has a comprehensive network of free trade agreements, promoting easier trade and investment flows,” it says.
“New Zealand has some of the fastest Internet speeds in the world. It is a safe, developed democracy offering many lifestyle benefits attractive to skilled labour. New Zealand's innovative technology scene is a magnet for entrepreneurs.”
It claims New Zealand firms have a ‘can-do’ culture and an ability to extract maximum value from available resources. “With a strong history of innovation and as early adopters of new technologies, New Zealand companies are building solutions to global challenges and selling those solutions all over the world.”