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


Amcham Marks Government's 'Bright Future' Package

The American Chamber of Commerce (AmCham) has given the government's latest "Bright Future - Five Steps Ahead" package an encouraging pass mark for its business education initiatives but a 'must try harder' verdict on the package's appeal to investors.

AmCham's trade and investment committee, which has been pressing the government to do more to attract foreign direct investment, said there were some gems in the Five Steps Ahead proposals, particularly in the tertiary education area. But there was little to persuade potential investors to include New Zealand on their list of destinations. "The worry is we may end up with well-qualified graduates but where are they going to work? They'll be off overseas and the intellectual drain we're experiencing will continue," says committee chairman Mike Stanley of Ernst & Young. "Foreign investment creates jobs."

AmCham was hoping for bigger things from the package in terms of tax breaks on research and development. "The government decision to take 'a hard look' at it at this late stage isn't much of a signal to investors, local or overseas," said Mr Stanley.

"Our view is that an overseas investor might look at this and say, 'the effort they're going to put into enterprise education is interesting, we'll take another look at New Zealand in five years.'"

Mr Stanley said the pluses in the tertiary education plans were encouraging but more needed to be done to make real progress.

AmCham is to seek an early meeting with Enterprise and Commerce Minister Max Bradford to offer "constructive comment" on the Five Steps Ahead initiatives. It will also offer experienced representatives for the Enterprise Education Taskforce through its Business Education Committee.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>