Source: New Zealand Government
Good morning, everyone.
I’m Todd McCay, Minster of Agriculture, Forestry, Trade, the first minister for Investment – or Foreign Direct Investment, as well as associate minister for Foreign Affairs — responsible with the Deputy PM for: Latin America, Gulf States, Northen Asia, and Africa.
New Zealand is an ambitious, innovative country. We’re globally connected, rich with opportunity, and open for business. If you’re looking for a place to invest, to build, or to grow—New Zealand is the place to be.
Our location in the Asia-Pacific, a stable political environment, a highly skilled workforce, and significant network of trade and investment agreements makes us an obvious choice for global businesses.
As Trade and Investment Minister, I often talk to investors who see the immense potential New Zealand offers. They tell me they want to do more here, and my message to them, and to you, is clear: we will back you.
If you want to grow, to expand, or to innovate in New Zealand, we will help make it happen.
The Government, and New Zealanders, know that Foreign Direct Investment is crucial to grow the economy. It fuels innovation, creates jobs, and ensures we can compete on the world stage. That’s why we’re making it easier than ever for investors like you to seize the opportunities that we have to offer.
We have important trade architecture through trade and investment agreements with most parts of the world, 20 of them in fact, from the UK and EU to the CPTPP including Japan, countries from North America, South America, South East Asia, Australia, China, Singapore and of course two newly concluded last year in record time, the UAE and GCC including Saudi Arabia.
We have a network of investment treaties and agreements with more than 40 countries – 84% of New Zealand’s FDI is covered by these agreements worth $133 billion. And we have more than 40 double tax agreements and we respect tax rules and law.
Today, I am pleased to announce that we will roll out the welcome mat, by establishing a new agency – Invest New Zealand — a dedicated, standalone group focused solely on attracting foreign investment, whose job it is to make it easier for you. I also want to introduce you to our key growth sectors, where we see huge potential, and tell you about the changes we’re making to ensure New Zealand is a top-tier destination for your investment.
Invest NZ has a bold new vision
We’re taking investment attraction to the next level.
To scale up our efforts, we will stand up Invest New Zealand by 1 July this year.
The world has responded positively to our announcement that we are open to investment — and we don’t want them to have to wait for our service.
Invest NZ will be a one-stop-shop, a problem solver, cutting through bureaucracy and proactively ensuring that investment propositions get through the system quickly. Its job will be to work with you get the right decisions from central and local government smoothly, get your consent or permission effortlessly. We want to derisk your decision to invest in our country.
Through Invest NZ, we will:
- Target high-impact investments in key sectors like technology, agritech, renewable energy, fintech, finances, manufacturing, advanced manufacturing and of course the production and processing of high-quality, safe food.
- Remove unnecessary barriers so investing here is easy, efficient, and predictable.
- Proactively engage with global investors and multinationals, showcasing the unique advantages of doing business in New Zealand.
- Support high-growth Kiwi businesses to become investment-ready, so they can scale up and expand internationally.
While Invest NZ won’t lead on infrastructure investment – that remains with National Infrastructure Funding and Financing Limited – it will connect global investors with the right agencies to get deals done. We want to make it as easy as possible for you to do business here.
Invest NZ is a tool available to investors get deals through the system quickly and efficiently, and to give you the certainty that the Government stands with you.
By leveraging our strengths: our talent, innovative excellence, and commitment to high-quality production – Invest NZ will unlock tens of billions of dollars in global investment and position New Zealand as one of the most attractive places to invest in the Asia-Pacific.
We have set an ambition target to double exports by value within ten years, Invest NZ will ensure New Zealand attracts the capital needed to help achieve this. We will also compare FDI stock as a percentage of GDP against other nations to better measure our success in attracting investment.
If you want to do more in New Zealand, we back you and Invest NZ will help make it happen.
Investing in High-Growth Sectors
There’s no shortage of world-class investment opportunities in New Zealand – you heard about a few of them yesterday from the Prime Minister and my colleagues. Across multiple industries, businesses are scaling, innovating, and looking for global partners to help them grow. We believe some of the biggest untapped opportunities lie in the following sectors:
Fintech & Finance
New Zealand’s fintech sector is booming.
- $2.6 billion in revenue in 2023, with 24% compound annual growth since 2018.
- Now New Zealand’s largest tech sector, establishing a critical mass of larger export firms like Xero.
- Fintech firms with $5m+ in revenue have tripled in a decade.
- The sector employs 4,200 people in New Zealand, with another 4,650 offshore.
- The Government is introducing open banking legislation to drive competition and innovation in financial services, creating new opportunities for investment. There are opportunities for more banks in New Zealand.
Renewable Energy
New Zealand is leading the global shift to net-zero carbon.
- 88% of our electricity is generated from renewables—but just 30% of our industry and transport runs on clean energy, meaning massive untapped potential.
- Strong government backing and natural resources make this a prime sector for investment.
- Opportunities exist in green hydrogen, battery storage, renewable energy exports, data storage and AI processing.
Advanced Transportation
New Zealand is a testbed for cutting-edge transport technology.
- Ranked third in the world for rocket launches.
- A forward-thinking regulatory environment allows innovation to scale fast.
- Investors can plug into a fast-growing ecosystem spanning aerospace, EVs, and autonomous transport.
Aquaculture
Aquaculture is New Zealand’s fastest-growing food production sector.
- The global market is expanding at 5.4% compound annual growth rate.
- New Zealand has one of the largest exclusive economic zones in the world (4.1 million sq km).
- The industry is targeting $3 billion in annual value by 2035.
Cleantech
New Zealand is a global leader in sustainable innovation.
- The cleantech market is projected to hit $1 trillion by 2030.
- We have a highly skilled tech workforce and strong R&D capability.
- A growing pipeline of scalable cleantech ventures needs capital to accelerate growth.
Minerals & Resources
New Zealand’s mineral sector is primed for growth.
- The sector aims to double exports to $3 billion and grow jobs from 5,290 to 7,000+ by 2035.
- Expansion of gold, coking coal, mineral sands, critical minerals and rare earth minerals will drive this growth.
- New Fast Track Approvals legislation is clearing the path for investment.
We Back You
There are world-leading businesses across all these sectors ready for investment. Many of them need not just capital, but global expertise, networks, and partners who can help them scale.
So, my message to you is clear: If you’re ready to invest, we’re ready to help. We can drive growth together and turn opportunity into profit.
I encourage you to get in touch with the team at Invest New Zealand if you’re interested in learning more about opportunities in the sectors included in the following showcase or in any other sectors.
Conclusion
It is now a privilege to hand over to my colleagues who will take you through the specific sector opportunities I’ve highlighted:
- Minister Jones: recourses and aquiculture
- Minister Collins: Advanced Transportation
- Minister Watts: renewable and clean energy
It has been a pleasure speaking with you. I look forward to seeing many of you take the next step and grow sectors in New Zealand.
As New Zealand’s newly appointed, and first Minister responsible for Foreign Direct Investment, I want to leave you all with one clear message – we are open for business, and we will be saying yes to investment.
Thank you.
