NZ Economic Development Minister Trevor Mallard announced yesterday that the Government is scrapping some grants aimed at attracting foreign investors and will instead boost support for local firms keen to partly move offshore.
New Zealand, he said, needed to dramatically boost its companies' strategic linkages and investments in other countries if the export sector was to grow at a faster rate.
This is a pretty courageous move in my view, but one that is right. I have blogged many times before on the need for NZ business to engage more in the global economy, as opposed to just focus on 'exports'. The fact that the Government now appears to be proposing some concrete (let's see the detail first) proposals to help NZ business do this can only be positive.
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