Christopher Luxon announces foreign investment agency in state of nation address

Science and Technology Science and Technology

Thu, January 23, 2025

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Christopher Luxon announces foreign investment agency in state of nation address

^{Published on 2025-01-22 19:42:17 - rnz}

Prime Minister Christopher Luxon announced the changes in his state of the nation speech in Auckland, saying it would lay the path to prosperity.

In his State of the Nation address, New Zealand's National Party leader Christopher Luxon announced plans to establish a new foreign investment agency aimed at simplifying and speeding up the process for overseas investors. Luxon criticized the current Overseas Investment Office (OIO) for being slow and overly bureaucratic, which he claims deters potential investors. The proposed agency would focus on attracting high-quality investments that could boost New Zealand's economy, particularly in sectors like technology, infrastructure, and renewable energy. He emphasized the need for a more efficient system to ensure that beneficial investments are not lost due to administrative delays. Additionally, Luxon highlighted the importance of maintaining national security and environmental standards while making the investment process more investor-friendly.

Read the Full rnz Article at:
[ https://www.rnz.co.nz/news/political/539737/christopher-luxon-announces-foreign-investment-agency-in-state-of-nation-address ]

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Christopher Luxon announces foreign investment agency in state of nation address