FoMA Conference Highlights Great Future for Maori Economy

November 7th 2010

Prime Ministerial encouragement to use science, innovation and research to accelerate growth of the Maori economy is being welcomed by the Federation of Maori Authorities.

Speaking to the Federation Annual Conference at Waitangi on Saturday, Prime Minister John Key endorsed the Federation's call for Maori enterprises to band together to exploit export opportunities for fisheries, agriculture, and tourism in world markets like China, and make the most of the focus on New Zealand during the Rugby World Cup.

FoMA is New Zealand’s largest Maori business network and the approximately 400 attendees at the conference represented more than 150 trusts, incorporations, boards, Runanga and Maori owned businesses.

“With assets estimated at more than $16 Billion the Maori economy is already playing an essential role in the success of New Zealand Inc,” says FoMA Chair Traci Houpapa. “It was most encouraging to hear the Prime Minister indicate ways we can build even bigger, sustainable, long term businesses by working collectively and collaboratively with each other and with the Government.”

“While the Government can provide the environment and policy settings for success, ultimately it is you, the entrepreneurs, the innovators, the workers, who will generate wealth and growth in this economy,” John Key told the conference.

“The information I’ve seen estimates that of the billions of dollars of assets held by Maori, at least half are in the primary sector,” Mr Key said. “I see great opportunity for these primary sector businesses to step-up and grow, particularly through science, innovation and research and development.

“It’s science and new thinking that will boost the value of the products you produce, that will increase the profitability of the production process and that, ultimately, will create extra value out of the resources you already have.”

FoMA has an increasing number of new members who have or are about to take control of their ancestral lands which need to be developed commercially as viable sustainable businesses able to deliver meaningful social and economic dividends to their shareholders and beneficiaries . For that to happen it is absolutely essential that scientific research and development be available to them. And we are pleased that the Prime Minister recognises that. said CE Ron Mark

Mr Key described the Federation of Maori Authorities (FOMA) as an excellent network for bringing together the voices, the people and the ideas to build a better economic future for both Maori and all of New Zealand

“I’m excited about the role FOMA can play,” he said. “I am aware your organisation has recently been through some changes and that you are looking to redouble your efforts.” “This year has seen the largest volume of milestones achieved by the Office of Treaty Settlements and claimants in a single year and it is almost twice the output of the next largest year,” he said. ”Because we have accelerated the pace of settlements, there is an increasing focus on how groups can set strategies for post-settlement success.” “We are moving on from a time when iwi leadership and resources have been heavily focussed on resolving historic injustices, and we are fast moving to an era in which that energy will be increasingly devoted to development and business opportunities for the future.”

"Given that 32% of the FoMA membership are already post settlement entities the ongoing settlement process will provide an even greater number said Ron Mark

" This will further in crease the ability for Maori to multiply their economy thru collaboration and innovation and that will dramatically change the face of the New Zealand economy."

For further information or interviews please contact Ron Mark 021 620 874

FoMA Conference Highlights Great Future for Maori Economy

November 7th 2010

Prime Ministerial encouragement to use science, innovation and research to accelerate growth of the Maori economy is being welcomed by the Federation of Maori Authorities.

Speaking to the Federation Annual Conference at Waitangi on Saturday, Prime Minister John Key endorsed the Federation's call for Maori enterprises to band together to exploit export opportunities for fisheries, agriculture, and tourism in world markets like China, and make the most of the focus on New Zealand during the Rugby World Cup.

FoMA is New Zealand’s largest Maori business network and the approximately 400 attendees at the conference represented more than 150 trusts, incorporations, boards, Runanga and Maori owned businesses.

“With assets estimated at more than $16 Billion the Maori economy is already playing an essential role in the success of New Zealand Inc,” says FoMA Chair Traci Houpapa. “It was most encouraging to hear the Prime Minister indicate ways we can build even bigger, sustainable, long term businesses by working collectively and collaboratively with each other and with the Government.”

“While the Government can provide the environment and policy settings for success, ultimately it is you, the entrepreneurs, the innovators, the workers, who will generate wealth and growth in this economy,” John Key told the conference.

“The information I’ve seen estimates that of the billions of dollars of assets held by Maori, at least half are in the primary sector,” Mr Key said. “I see great opportunity for these primary sector businesses to step-up and grow, particularly through science, innovation and research and development.

“It’s science and new thinking that will boost the value of the products you produce, that will increase the profitability of the production process and that, ultimately, will create extra value out of the resources you already have.”

FoMA has an increasing number of new members who have or are about to take control of their ancestral lands which need to be developed commercially as viable sustainable businesses able to deliver meaningful social and economic dividends to their shareholders and beneficiaries . For that to happen it is absolutely essential that scientific research and development be available to them. And we are pleased that the Prime Minister recognises that. said CE Ron Mark

Mr Key described the Federation of Maori Authorities (FOMA) as an excellent network for bringing together the voices, the people and the ideas to build a better economic future for both Maori and all of New Zealand

“I’m excited about the role FOMA can play,” he said. “I am aware your organisation has recently been through some changes and that you are looking to redouble your efforts.” “This year has seen the largest volume of milestones achieved by the Office of Treaty Settlements and claimants in a single year and it is almost twice the output of the next largest year,” he said. ”Because we have accelerated the pace of settlements, there is an increasing focus on how groups can set strategies for post-settlement success.” “We are moving on from a time when iwi leadership and resources have been heavily focussed on resolving historic injustices, and we are fast moving to an era in which that energy will be increasingly devoted to development and business opportunities for the future.”

"Given that 32% of the FoMA membership are already post settlement entities the ongoing settlement process will provide an even greater number said Ron Mark

" This will further in crease the ability for Maori to multiply their economy thru collaboration and innovation and that will dramatically change the face of the New Zealand economy."
ends

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