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

 

NZ Forest industry progresses with Act amendments

20 June 2018

NZ Forest industry progresses with Overseas Investment Act amendments

Forest Owners say the government’s announcement that the Overseas Investment Act would be amended to cut out red tape is a very positive signal to potential investors.

FOA President Peter Weir says though he still can’t see the point of including cutting rights, instead of land ownership, in the scope of the Overseas Investment Office. But the deepest objection to the working of the OIO seems to have been removed.

“We’ve had companies who have invested here for decades and who have demonstrate their commitment by providing stable employment and income for local communities, having to go back to the OIO with another application, as though they were fresh arrivals starting from scratch.”

“Same company, same proposal, but an application that took hundreds of thousands of dollars of paperwork and many months to get an outcome.”

“We will welcome a more efficient OIO processing system,” Peter Weir says.

“Forest Owners said when the Billion Trees in Ten Years government target was formulated during the coalition negotiations that it would be very difficult to achieve that many trees planted if there were onerous obstacles to overseas investment imposed at the same time.”

“Our industry as it is, will be planting half of the total, but to get to the billion trees New Zealand will need a lot of additional land, labour and investment. Investors are very sensitive to market signals, and quite frankly the government signals have been mixed over the past few months.”

“We accept that overseas investment is a privilege and not a right. We know there are rules to be followed and we accept that. But rules for the sake of rules get in the way of achieving the government’s laudable goals of providing economic boosts to regional industry and more trees are the what the experts agree are the only viable way for our country to achieve its greenhouse gas emission targets.”


ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 


Tegel: Chicken Prices On The Rise But It’s Still The Favourite Protein For Kiwi Families

A combination of domestic and international factors is forcing New Zealand’s largest poultry supplier Tegel to raise its prices from July. The roughly 10% price rise is a result of ongoing cost pressures on the industry, including increases in labour... More>>

Hospitality NZ: Hospitality Wages Jump 9% To Pass Living Wage
Wages and salaries across the hospitality sector continue to increase despite businesses having to battle through some of the toughest trading periods in living memory... More>>



Climate Leaders Coalition: Launches New Statement Of Ambition, Appoints New CEO Convenor

The Climate Leaders Coalition is tonight officially launching a new Statement of Ambition to accelerate business action on climate change... More>>


MYOB: New Data Shows Increase In SMEs Experiencing Stress And Anxiety

The lingering impacts of the COVID-19 pandemic have led to a surge in the number of local SME owners and operators experiencing stress and anxiety, according to new research from business management platform, MYOB... More>>



Carbonz: Cashing In On Carbon: The New Marketplace Helping Native Forest To Thrive

The country’s first voluntary carbon credit marketplace, Carbonz, is here to restore native biodiversity and help Aotearoa reach its carbon zero goals by selling the first carbon credits exclusively from native forest... More>>
Entrust District: Dividend Will Be Welcomed After Another Tough Year
We’ve all heard of the saying; “if it sounds too good to be true, it probably is” but for Aucklanders within the Entrust District, getting their share of Entrust’s 2022 annual dividend payment really is as good as it sounds... More>>