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Sinking Biotech in NZ?

Sinking Biotech in NZ?

The Government needs to be really careful that it doesn’t sink its own biotechnology strategy, and the opportunity for economic growth from the biotech sector, by adopting changes to the HSNO Act which create significant disincentives to the adoption of appropriate technologies for New Zealand, the Chairman of the Life Sciences Network, Dr William Rolleston, said today.

The Royal Commission strongly recommended we preserve our opportunities to use genetic modification for economic, health and environmental benefit.

We need to be selective and cautious but we certainly don’t need to make it far too costly and difficult for any of the world class science being done in our laboratories to make it out into the community.

Proposals for bonds on developers and users and full cost recovery from applicants will drive economic investment in our science away from New Zealand rather than attracting it here.

The Government needs to get a loud and clear message from the industries which drive our growth and economic wealth don’t make investment too hard or we will turn quickly into a 3rd world economy. The economic risks involved in biotech projects are already substantial, it is irresponsible of Governments to increase those risks.

The Life Sciences Network will examine the full range of proposals very carefully and will, with its members, make detailed submissions on the best way forward, concluded Dr Rolleston.

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