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


Global Competitiveness Report: Sharpen up!

9 October 2008

Global Competitiveness Report: Sharpen up!

The latest Global Competitiveness Report shows New Zealand in 24th place among 130 countries, the same ranking as last year.

The annual survey ranks countries according to their ability to compete internationally using factors such as markets, institutions, infrastructure and human resources.

Business NZ is a partner in the international survey. Business NZ Chief Executive Phil O'Reilly says the survey helps focus business and policy makers on areas for improvement.

"For New Zealand, the good points can be summed up as excellent institutions, sound rule of law, and very low trade barriers," Mr O'Reilly said.

"Our history as a stable, free-trade country with ethical firms, good shareholder protections and very little corruption is a sound foundation for good business.

"However beyond the foundation we have many areas where we need to be sharper. The survey shows we have thin markets (not much competition), lots of regulation, wasteful government spending, high tax, indifferent infrastructure and a big brain drain.

"There is a pattern among several of these negative variables, for example too much regulation and wasteful government spending results in high tax, and high tax is one of the reasons for a big brain drain. The message to our government about regulating, spending and taxing is clear."

Mr O'Reilly said the survey of business leaders run in conjunction with the Report showed a similar message. New Zealand business leaders surveyed ranked their most problematic factors for doing business, in order, as: inadequate infrastructure, inefficient bureaucracy, high tax, inadequately educated workforce, inflation and too many regulations.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Civil Contractors: Massive Rebound In Civil Construction Business Confidence

New Zealand’s civil construction industry is riding a massive rebound in post-pandemic business confidence – but this may be undermined by skills shortages, which continue to be the industry’s number one challenge... More>>

Energy: Feeling Our Way Towards Hydrogen - Tina Schirr

Right now hydrogen is getting a lot of attention. Many countries are focusing on producing hydrogen for fuel, or procuring it, or planning for its future use... More>>

Maritime Union: Calls For New Zealand Shipping To Resolve Supply Chain Crisis

The Maritime Union says there needs to be innovative responses to ongoing shipping congestion. Maritime Union of New Zealand National Secretary Craig Harrison says it is essential that New Zealand develops its own shipping capacity... More>>

Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>

Real Estate: June Home Transfers Remain High
There were 44,517 home transfers in the June 2021 quarter, the highest June quarter figure since 2016, Stats NZ said today. The number of home transfers was very similar to the March 2021 quarter and was up 18,252 from the June 2020 quarter... More>>

Statistics: Household Saving Falls In The March 2021 Quarter

Saving by New Zealanders in the March 2021 quarter fell to its lowest level in two years after rising sharply in 2020, Stats NZ said today. Increases in household spending outpaced income growth, leading to a decline in household saving from the elevated levels that prevailed throughout 2020... More>>