Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search


Overseas investment important but assets not for sale

Overseas investment important but assets not for sale

The importance of foreign investment in New Zealand cannot be overestimated, but it should never come at the expense of our public assets, Labour’s Trade spokesperson Maryan Street says.

Her comments follow those of Chinese embassy political counsellor, Chen Lei, who is reported as saying this week that there were some assets, such as New Zealand dairy farms and mining, that offered potential for Chinese investors.

“Certainly Labour welcomes direct investment from China on the same basis as other FDI – Treasury has estimated that between 1995 and 2005 foreign investment lifted national income by almost $6 billion – but we are totally opposed to selling State assets into overseas ownership. That makes no sense at all. It is economic madness,” Maryan Street said.

Labour did, however, support foreign investment in productive ventures, new technologies, scientific research and other areas where there is a clear economic gain for both New Zealand and the investor, she said.

“Labour negotiated New Zealand’s FTA with China, and under that traditional trade has flourished. But as a follow on the Government has done little to encourage capital flows into new ventures which can benefit both countries,” David Parker said.

“With disastrously high youth and ethnic unemployment, we plainly need the jobs. Labour has a vision for our strong relationship with China. We will vigorously pursue the significant opportunities which arise from our resources and talents, combined with Chinese capital, talents and world markets.

“We won’t be hands off when it comes to our relationship with China or other global growth markets, but we will be keeping NZ ownership of our strategic land and infrastructure assets,” David Parker said.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Failing To Prepare For Either Mental Health Needs, Or Covid Outbreaks

In a week when the Covid scare in Wellington and the national crisis in mental health both hit the headlines, they also seemed like mirror images of each other – in that we seem equally ill-prepared on both fronts. In both cases, contingency planning has seeds next to non-existent... More>>


National: Minister Little All Out Of Answers On Mental Health

In Parliament today Health Minister Andrew Little had few answers to my questions on the mental health crisis Labour has allowed to balloon in their nearly four years in Government, National’s Mental Health spokesperson Matt Doocey says... More>>


Environment: Bringing Back The Health Of Hauraki Gulf

New marine protection areas and restrictions on fishing are among a raft of changes being put in place to protect the Hauraki Gulf for future generations.
The new strategy, Revitalising the Gulf – Government action on the Sea Change Plan, released today... More>>


NZ First Returns: Winston Peters - AGM Address

Ladies and gentlemen, it’s a pleasure to be in Auckland for the 28th New Zealand First Party Conference. It is our intention and mission to remain the most successful political party outside of National and Labour in the last three decades... More>>

Government: New Members Appointed To Waitangi Tribunal

Minister for Māori Development, Hon Willie Jackson, today announced the appointment of three new members to the Waitangi Tribunal and the reappointment of one existing member to the Waitangi Tribunal... More>>

NZNO: Nurses Reject DHB Offer And Confirm Strike Action

The New Zealand Nurses Organisation says its 30,000 members who work in DHBs have voted overwhelmingly to reject a second offer in their current round of multi-employer collective agreement (MECA) negotiations... More>>





InfoPages News Channels