Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZ in 23rd place for global competitiveness

Media release
28 September 2006

NZ in 23rd place for global competitiveness

New Zealand has slipped slightly in this year’s global competitiveness ranking.

From 22nd place in last year’s survey, New Zealand is now at 23 in a ranking of 117 countries. Australia is in 19th place.

The Global Competitiveness Survey ranks countries on their ability to compete internationally and highlights factors that help or harm countries’ competitiveness.

New Zealand scores well on the basic requirements for business, including corruption-free institutions, good education systems and ease of beginning a new business.

However, New Zealand scores poorly for factors like employment law, wasteful government spending, tax, quality of electricity supply and the brain drain

Business NZ Chief Executive Phil O’Reilly said it was important for the country to move further up the rankings on the factors that made a difference to companies’ ability to begin exporting and contesting world markets.

“We need to move beyond just doing the basics well.

“The environment for doing business in New Zealand needs improving so start-up businesses don’t get bogged down by too-restrictive employment law or high tax resulting from high government spending.

“The regulatory system for electricity infrastructure needs fixing so that companies feel confident to invest in new enterprise.

“We think that improving the environment for business would make a big difference to emigration rates by educated Kiwis.”

Mr O’Reilly said the annual survey was a useful benchmark against other nations on the crucial issue of competitiveness in world markets.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news