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

 

AMCHAM Business Issues Survey Findings

American Chamber of Commerce in New Zealand Business Issues Survey Findings


The American Chamber of Commerce business issues survey of US companies operating in New Zealand has found that this country is a safe, stable place to invest but offers no real incentives to do more.

- All of the 85 respondents, who included a high percentage of Fortune 500 companies, had clear views on what the Government needed to do to attract greater foreign direct investment and create a competitively attractive business climate.

- Top of the wish list was a call for government to stimulate domestic economic growth through:
- reviewing monetary and taxation policies
- solving infrastructure problems especially roading, electricity pricing and broadband access
- reducing compliance costs and red tape
- lifting the skill base to meet the needs of new and emerging technologies
- creating a more user friendly business environment
- less government intervention

- Resource management and employment legislation were singled out as examples of excessive regulation and intervention which increased the general perception respondents have of the government being anti business, with a negative attitude towards foreign companies, particularly US companies.

- Only three of the 85 survey respondents, had plans to relocate their New Zealand operations overseas while 10 were looking at downsizing.

- 29 respondents indicated their intention to consider new investments here and 58 said they were forecasting sales growth in the year ahead.

- Respondents liked New Zealand’s “can do” attitude and innovative, entrepreneurial spirit, along with the environment, lifestyle benefits and being a safe place.

- Some saw the country as a “a microcosm of the US market” but smaller with an export oriented economy and stable, honest and open government.

- Respondents shared a common concern related to the government’s response to the US intervention in Iraq and “unnecessary comments by the Prime Minister which they feared would further slow new investment.

- Most continued to support a Free Trade Agreement with the US and while few of the respondents saw it as a real likelihood and had not become involved in the to date, many had indicated that they were now prepared to make the commitment to enable progress to be made.

The survey, conducted in June and July by email and phone, will become an annual business climate barometer for the American Chamber of Commerce in New Zealand to use to direct its focus in championing bilateral trade, commercial and business ties.

The results are being presented to government and the business community as a catalyst for discussion to solve the roadblocks to investment.

The survey questionnaire and findings can be found on the AmCham website at www.amcham.co.nz

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:

Mediaworks: Reaches Agreement To Sell TV Operations To Discovery, Inc.

New Zealand’s largest independent commercial broadcaster MediaWorks and the global leader of real-life entertainment Discovery Inc. (“Discovery”) are pleased to announce they have reached a binding agreement regarding the sale of MediaWorks’ ... More>>

ALSO:

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO:

SAFE: Live Export Ship Carrying 5,800 New Zealand Cows Goes Missing In East China Sea

Livestock carrier Gulf Livestock 1 sent a distress signal at 4:45am NZT yesterday in the East China Sea. The area is affected by Typhoon Maysak. At 4pm a patrol plane spotted a lifeboat - with no people in it - and a man in lifejacket nearby. The ship ... More>>

ALSO:

FMA: Kiwisaver Fees Don't Match Performance

The Financial Markets Authority (FMA) today published an independent report into the passive and active investment management styles [i] used by KiwiSaver providers. The FMA commissioned MyFiduciary to test the extent that KiwiSaver providers were ... More>>