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Industry New Zealand Bill introduced

The Bill establishing Industry NZ as a Crown entity was introduced into parliament today, fleshing out further details of the Government's new 'jobs machine.'

The Economic Development (Industry New Zealand and Ministry of Economic Development) Bill will be debated next Thursday.

Industry New Zealand is the implementation arm of the Government's economic development initiatives.

Its functions are described in the Bill as managing the Government's initiatives for industry and regional development; working with the Ministry of Economic Development to develop the detail of programmes; allocating funds and delivering services for industry and regional development programmes; and facilitating co-operation and co-ordinating the delivery of Government business assistance.

The Economic Development Minister will be able to issue directions to Industry New Zealand. Directions have to be gazetted and tabled in Parliament.

A Board of between five and nine will be appointed by the Minister and it will appoint the chief executive.

The Bill introduced today formally changes the name of the Ministry of Commerce to Ministry of Economic Development, and changes the title of the Secretary of Commerce to Chief executive of the Ministry of Economic Development.

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