Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 


NZ climbs to 17th on Global Competitiveness Index

FOR IMMEDIATE RELEASE

05 September 2014

MEDIA RELEASE

NZ climbs to 17th on Global Competitiveness Index

Wellington (September 5, 2014): New Zealand has improved its rank on the Global Competitiveness Index and extended the lead over Australia, according to an annual survey compiled by the World Economic Forum.

The country is now ranked 17th on the Global Competitiveness Index, up one place from last year when it broke into the top 20 for the first time. This is New Zealand’s highest position to date, and represents an overall improvement of eight places since 2012.

In contrast, Australia’s highly restrictive labour markets continued to drag on the country’s competitiveness ranking, which slipped one place to 22 - well short of the 15th position it occupied in 2009.

Dr Oliver Hartwich, Executive Director of the New Zealand Initiative – which helped compile the survey data – said the continued improvement reflected the strength of the country’s institutions and regulatory settings, particularly in the education, health and labour sectors.

“The investments that this country has made over time into things like the rule of law, property rights and flexible labour markets are paying dividends now, and the results can be seen in our high rate of GDP growth,” he said.

Hartwich said the report emphasised the need to continue investing in the factors that contributed most to business competitiveness, and not to take the complacent attitude to economic reform seen in Australia over the past few years.

“This country has huge economic opportunities sitting right on our doorstep with the emergence of Asian economies such as China, Indonesia and Malaysia onto the world stage,” he said.

“If we want to grasp these opportunities and improve the lives of everyday New Zealanders, we need to not only double down on the areas where we are strong, but also focus on where we are weakest, such as the quality of our business networks and infrastructure investment.”

Hartwich said a number of other factors could also boost the country’s competitiveness, such as unpicking the restrictions of foreign direct investment, freeing up capital for investment by tackling the housing affordability crisis, and reducing bureaucratic red tape.

The annual Global Competitiveness Report is compiled from 111 indicators, categorised into 12 pillars of competitiveness in four main sub-indices: basic requirements, efficiency enhancers, and innovation and sophistication factors.

The next most competitive countries were Switzerland, Singapore, United States, Finland, Germany, Japan, Hong Kong, Netherlands, United Kingdom, and Sweden.

Full report: http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2014-15.pdf

Initiative non-executive director and ANZ Chairman, John Judge, is available for media commentary on this release. To arrange an interview, please call The New Zealand Initiative on 04 499 0790.

About the New Zealand Initiative

The New Zealand Initiative is an evidence-based think tank and research institute, which is supported by a membership organisation that counts some of the country’s leading visionaries, business leaders and political thinkers among its ranks.

Our members are committed to developing policies to make New Zealand a better country for all its citizens. We believe all New Zealanders deserve a world-class education system, affordable housing, a healthy environment, sound public finances and a stable currency.

The New Zealand Initiative pursues this goal by producing well-researched reports and hosting high level conferences and events. For more information visit www.nzinitiative.org.nz

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Labour: Healthy Homes Bill Passes First Reading

Some of New Zealand’s most vulnerable children and families are on their way towards safer living conditions with the passing of the first reading of the Healthy Homes Guarantee Bill in Parliament last night, Leader of the Opposition Andrew Little says. More>>

ALSO:

Werewolf Satire: Home, And A Way

The one thing even more popular than an Auckland house is offering advice on how to afford an Auckland house. So, on the grounds it can’t be worse than some of the stuff that’s out there, here’s my three cents* worth. [*Up 50% since 2013!] More>>

ALSO:

Werewolf: The Defence Pretence

Last year, the world began spending more money on weapons again, for the first time since 2011... New Zealand belongs to a region – Asia and Oceania – where military spending rose sharply in 2015, by 5.4 per cent. More>>

ALSO:

Gordon Campbell: On Not Crying Foul, Argentina

So a couple of guys found to be criminally liable of environmental pollution in Argentina lodge an application with the Overseas Investment Office… in order to buy some prime New Zealand rural land. Seems that their factory back home had carelessly and/or intentionally discharged toxic waste into the Lujan river. Bummer... More>>

ALSO:

Urban & Rural: $303m To Merge And Modernise New Zealand’s Fire Services

Internal Affairs Minister Peter Dunne today announced funding of $303 million over five years to combine urban and rural fire services into one organisation from mid-2017. More>>

ALSO:

High Trust Regime: What Did The PM Tell His Lawyer About Foreign Trusts?

The Government stopped the IRD from reviewing New Zealand foreign trusts shortly after the Prime Minister’s lawyer wrote to the Revenue Minister claiming John Key had promised him the regime would not be changed. More>>

ALSO:

Road Crime: Wicked Campers Vans Classified As Objectionable

The definition of publication includes any "thing that has printed or impressed upon it, or otherwise shown upon it, 1 or more (or a combination of 1 or more) images, representations, signs, statements, or words", The Classification Office has previously classified such 'things' as billboards, t-shirts, and even a drink can. This is the first time the Classification Office has classified a vehicle. More>>

ALSO:

'When New' Repairs: Landmark EQC Settlement

The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. More>>

ALSO:

Gordon Campbell: On Kiwirail’s Latest Stint In The Dogbox

The denigration of Kiwirail continues. The latest review (based on a 2014 assessment) of the options facing the company have enabled Kiwirail to be hung out to dry once again as a liability and burden on the taxpayer. More>>

ALSO:

Royal Society Report: Good Opportunities To Act Now On Climate Change

There are many actions New Zealand can and should take now to reduce the threat of climate change and transition to a low-carbon economy, a report released today by the Royal Society of New Zealand finds... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Politics
Search Scoop  
 
 
Powered by Vodafone
NZ independent news