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Infrastructure No.1 Key Issue for NZ

Global Competitiveness Report Ranks Infrastructure as No.1 Key Issue for NZ

Media release, 28 September 2005

The World Economic Forum's Global Competitiveness Report for 2005 has ranked inadequate supply of infrastructure as the biggest factor holding back New Zealand's competitiveness.

"These findings once again underline the critical importance of speeding up progress to address NZ's infrastructure deficit", says NZCID Chief Executive, Stephen Selwood.

"The information is widely used by a range of international organizations including the World Bank, government agencies, businesses, and academic institutions."

"The results mirror the findings of the NZ Herald Mood of the Boardroom survey earlier this month where 90 chief executives and company chairmen ranked problems with the road network as the number one infrastructural issue facing New Zealand." "In addition, nearly 94 per cent of industry leaders said they were concerned about the future of NZ's energy supply.

"Nearly two-thirds were concerned that their business operations or future investment intentions would be adversely affected by supply issues or escalating prices." "While better progress is being made, it is still taking far too long to gain approvals and complete infrastructure projects in New Zealand."

"The key message from all of this information for all political parties is that infrastructure development must be a priority for the incoming government", Mr Selwood said.

ENDS

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