Articles tagged with Growth
Strong Q3 Economic Growth Boosts Confidence Ahead of Christmas, Says Finance Minister
2 weeks ago | 178 viewsFinance Minister Nicola Willis welcomed the strong 1.1% economic growth in the third quarter, driven by 14 of 16 sectors, signaling a positive turnaround after challenging years. Key job-rich sectors like manufacturing, construction, and business services showed significant growth, alongside increases in exports and investment, indicating promising future job prospects and higher incomes. With GDP per capita rising 0.9% and forecasts predicting accelerated growth and lower unemployment next year, the government’s strategy to strengthen the economy appears effective.
Tags: economy growth Nicola Willis Finance Minister Stats NZ Treasury Reserve Bank manufacturing sector construction business services GDP per capitaNew Overseas Investment Law Speeds Approvals and Boosts NZ Economic Growth
3 weeks ago | 170 viewsAssociate Finance Minister David Seymour welcomes the Overseas Investment Amendment Act, which accelerates overseas investment decisions to 15 working days for most sectors, aiming to boost New Zealand business growth, productivity, and wages. The law simplifies the screening process with a modified national interest test, maintains stricter rules for sensitive assets like farmland and residential land, and allows overseas investors with a New Zealand investor resident visa to purchase high-value homes to encourage investment. Immigration Minister Erica Stanford highlights that attracting international investors brings capital, skills, and connections vital for economic development and growth.
Tags: David Seymour Erica Stanford Overseas Investment Act New Zealand LINZ Active Investor Plus immigration foreign investment economic growth productivityKaikōura Waterfront Redevelopment Boosts Tourism and Local Economy
3 weeks ago | 192 viewsThe completion of Kaikōura’s waterfront redevelopment, including the Wakatu Quay precinct, marks a significant milestone in revitalizing the region’s economy and tourism after the 2016 earthquake. The project features a new marine-inspired building for tourism, hospitality, and cultural events, supported by over $10 million in funding and a partnership between government, local council, iwi, and stakeholders. Constructed within a year by mostly local workers, the redevelopment enhances Kaikōura’s appeal as a destination and is expected to stimulate further private sector growth.
Tags: Kaikōura Shane Jones Wakatu Quay Kaikoura earthquake Regional Development Minister Provincial Growth Fund Kaikoura District Council tourism waterfront redevelopment South IslandFast-Track Approvals Amendment Bill Passed to Boost Economy and Grocery Competition
3 weeks ago | 139 viewsThe Fast-track Approvals Amendment Bill has been passed to streamline and expedite the approval process for important projects, particularly benefiting supermarket competition and regional development. The amendments aim to reduce consent processing times by over six weeks, making it easier for new supermarkets to open and boosting economic growth. Ministers emphasize that these changes will promote affordability, regional prosperity, and faster project delivery by addressing previous inefficiencies and red tape.
Tags: Nicola Willis Chris Bishop Shane Jones economic growth supermarket competition resource consent grocery affordability regional development government policy statementNew Zealand's New Planning System to Boost Housing Growth and Homeowner Freedom
4 weeks ago | 450 viewsThe New Zealand Government is overhauling its planning system to address the housing crisis by simplifying rules, increasing land supply, and enabling more competitive urban land markets, thereby making it easier and faster to build homes. The reforms include standardizing zoning nationwide, reducing consent complexities, allowing more development without council approval, and providing clear national direction with ambitious housing growth targets. These changes aim to lower costs, increase housing choice, strengthen property rights, and support sustainable urban expansion, with legislation expected to pass by 2026.
Tags: Chris Bishop New Zealand Government RMA Reform Housing Minister Planning Bill Resource Management Act Going for Housing Growth National Policy Statement ParliamentNew Zealand's Planning Reform Boosts Growth, Cuts Costs, and Modernizes Laws
4 weeks ago | 171 viewsFinance Minister Nicola Willis and RMA Reform Minister Chris Bishop announced a major overhaul of New Zealand’s planning rules aimed at boosting economic growth, job creation, and income levels by replacing the Resource Management Act with a more efficient, pro-growth system. The reforms, introduced through two new bills—the Planning Bill and the Natural Environment Bill—are projected to save $13.3 billion in costs over 30 years and increase GDP by at least 0.56% annually by 2050, while strengthening property rights and reducing regulatory burdens. The Government plans to pass the legislation by 2026, inviting public input through the Select Committee process.
Tags: Nicola Willis Chris Bishop Simon Court New Zealand Resource Management Act Planning Bill Natural Environment Bill RMA Reform Finance Minister economic growthTasman's Port Tarakohe Upgrade Boosts Economy, Aquaculture & Regional Resilience
1 month ago | 140 viewsThe $12.7 million upgrade of Port Tarakohe in Tasman District has transformed it into the region's only all-tide, all-weather, deep-water port, enhancing economic development and resilience. The improvements, including new wharves and facilities, support the growing aquaculture industry, marine tourism, and provide a crucial alternative route during highway closures. Funded jointly by the government and Tasman District Council, the project is expected to unlock nearly a billion dollars in value over 25 years and ensure vital access to Golden Bay during emergencies.
Tags: Shane Jones Jenny Marcroft Port Tarakohe Tasman District Golden Bay aquaculture infrastructure upgrade Provincial Growth Fund mussel farming Regional Development MinisterNew Zealand Tourism Booms with 6% More Visitors and $12.3B Spend in 2025
1 month ago | 165 viewsInternational visitors to New Zealand are increasing in number and spending more, driving significant growth in the tourism sector and economy, with total spending reaching $12.3 billion for the year ending September 2025. Visitor numbers rose to 3.43 million, reaching 88% of pre-pandemic levels, boosted by higher-spending travelers, especially from the USA. The government supports this growth through the Tourism Growth Roadmap, aiming to double tourism export value by 2034 while enhancing visitor experiences and regional opportunities.
Tags: Louise Upston New Zealand Tourism International Visitors USA MBIE Tourism Growth Roadmap Hospitality Economy Visitor SurveyReserve Bank Cuts OCR Again to 2.25%, Boosting Kiwi Economy in 2026
1 month ago | 227 viewsThe Reserve Bank has lowered the Official Cash Rate to 2.25%, marking the ninth reduction since July 2024, which is boosting economic activity and supporting forecasts of falling inflation and rising growth. This easing of rates is benefiting households by increasing mortgage renewal opportunities and enabling more Kiwis to purchase their first homes, with 23,600 first-time buyers in the past year. Finance Minister Nicola Willis highlights that these positive economic trends offer hope and improved financial choices for New Zealand families and businesses.
Tags: Nicola Willis Reserve Bank Official Cash Rate OCR New Zealand inflation economic growth mortgage lending first home buyers Kiwi familiesNew Infrastructure Funding Bill Boosts Housing Growth and Speeds Development
1 month ago | 178 viewsThe Infrastructure Funding and Financing Amendment Bill aims to ease development by enabling upfront financing of growth infrastructure, allowing properties benefiting from development capacity to be levied, thus overcoming council funding constraints. The amendments will broaden project eligibility to include agencies like NZ Transport Agency and KiwiRail, remove bureaucratic barriers, and ensure faster decisions with fewer vetoes to accelerate infrastructure delivery. These changes support the Government’s Going for Housing Growth Programme by providing flexible funding tools that help both planned and unplanned infrastructure meet housing demand.
Tags: Chris Bishop Simon Court Infrastructure Funding and Financing Amendment Bill Milldale Housing Growth New Zealand Transport Agency KiwiRail Infrastructure Funding Development Levy GovernmentNew Zealand Launches Te Haeata Certificate to Boost Business Events Workforce
1 month ago | 173 viewsThe New Zealand Government is investing in the New Zealand Certificate in Business Events (Level 4) “Te Haeata,” an industry-led qualification designed to build a skilled workforce for the business events sector. This practical, online training program aims to address workforce shortages, support career pathways, and enhance the global competitiveness of New Zealand’s tourism and hospitality industries. Launching in early 2026, Te Haeata will also be introduced in high schools to attract and retain talent, promoting sustainable growth in the sector.
Tags: New Zealand Certificate in Business Events Te Haeata Louise Upston business events sector tourism hospitality workforce development career pathways sustainable growthŌpōtiki Harbour Complete: Boosting Bay of Plenty Aquaculture and Jobs Growth
1 month ago | 138 viewsThe completion of the new Ōpōtiki Harbour, featuring two 350m harbour walls and dredged channels, has created safe access for marine activities and unlocked opportunities for aquaculture and regional economic growth. The project, funded by government and regional councils with significant local collaboration, generated around 200 construction jobs and supports the expanding mussel industry, which employs over 200 full-time staff. This major infrastructure investment aims to boost local incomes and contribute to the government's goal of increasing aquaculture sector sales from $750 million to $3 billion by 2035.
Tags: Shane Jones Ōpōtiki Harbour Bay of Plenty Whakatōhea Mussels Regional Development Minister New Zealand aquaculture Provincial Growth Fund Bay of Plenty Regional Council Ōpōtiki District CouncilNew Zealand Business Investor Visa Now Open for Experienced Investors
1 month ago | 182 viewsNew Zealand has launched the Business Investor Visa to attract experienced investors who will actively contribute to established businesses, supporting economic growth and job creation. The visa offers two investment pathways: $1 million for a three-year work-to-residence option and $2 million for a 12-month fast-track to residence. This initiative aims to sustain local businesses, protect jobs, and bring fresh capital and expertise into the economy as part of broader efforts to boost investment and growth.
Tags: Business Investor Visa New Zealand Immigration Erica Stanford investment business growth Active Investor Plus visa economic growth overseas investorsNZ Government Proposes Digital Food Labels to Boost New Supermarkets Entry
1 month ago | 206 viewsThe New Zealand Government is proposing a trial of digital food labelling for lower-risk imported goods to reduce costly re-labelling requirements for new supermarkets entering the market. This initiative aims to provide allergen, ingredient, and nutrition information via QR codes and digital platforms while ensuring compliance with food safety regulations. Public consultation on the trial is open until December 19, 2025, with the goal of enhancing market entry flexibility and supporting trans-Tasman digital labelling efforts.
Tags: Nicola Willis Andrew Hoggard New Zealand Food Act digital labels supermarkets food labelling food safety economic growthPrime Minister’s Space Prizes 2025: Dawn Aerospace CEO & Student Honored
1 month ago | 234 viewsStefan Powell, co-founder and CEO of Dawn Aerospace, and Southland student Sophie Ineson are the 2025 recipients of the Prime Minister’s Space Prizes, recognized for their innovation and contributions to New Zealand’s growing space industry. The space sector has seen significant growth, with revenue increasing 53% to $2.68 billion and supporting 17,000 skilled jobs, highlighting its economic importance and potential. Both winners will receive financial awards to support their work and education, underscoring New Zealand’s commitment to fostering talent and leadership in the global space industry.
Tags: Stefan Powell Sophie Ineson Dawn Aerospace Prime Minister’s Space Prizes Christopher Luxon Megan Whelan Collins New Zealand space industry space exploration advanced aviation sector space sector growth