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Celebrating productive investment in New Zealand

Celebrating productive investment in New Zealand

Attracting direct investment into productive New Zealand-based enterprises is vital to enable them to grow and create more high quality jobs for New Zealanders, Industry & Regional Development Minister, Jim Anderton, said today.

"In order to expand and develop our economy, New Zealand needs to become more innovative, increase our international connectedness and develop our skills and talents.

"Investment in productive New Zealand-based enterprises with high export potential is part and parcel of expanding and developing our economy to its full potential," the Progressive leader said.

Jim Anderton was responding to incoherent, anti-New Zealand comments from the National and ACT parties today in Parliament begrudging the important work Investment New Zealand has done to successfully attract investment in New Zealand-based high technology exporter, Navman.

It took Navman 18 years to grow sales to $100 million. Thanks to the Brunswick connection facilitated by Investment New Zealand's work, Navman now has the potential to increase sales to $1,000 million over the next five years.

Investment New Zealand's role is to help grow the New Zealand economy by matching high-growth New Zealand companies with potential investors who can add value to the New Zealand economy.

The Brunswick Corporation investment in Navman is a very good example of a success story.

The deal has significantly increased Navman's access to global marketing, research and development. Since the investment Navman has created another 200 jobs in New Zealand.

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