1 00:00:00,080 --> 00:00:04,000 Speaker 1: The gates to overseas investment are now open, declared Christopher 2 00:00:04,080 --> 00:00:06,120 Speaker 1: lux And yesterday, and its stated in the Nation's Speech. 3 00:00:06,160 --> 00:00:09,280 Speaker 1: A new agency, Invests New Zealand is being established. It 4 00:00:09,320 --> 00:00:11,360 Speaker 1: wants to drive growth be a one stop shop for 5 00:00:11,440 --> 00:00:15,960 Speaker 1: international capital. The concepts being modeled apparently off successful schemes 6 00:00:16,000 --> 00:00:20,000 Speaker 1: in Singapore and in Ireland. Marcus Beveridge is with Queen's 7 00:00:20,000 --> 00:00:23,240 Speaker 1: City Law. He's the managing director of Foreign Investment Specialist Marcus. 8 00:00:23,239 --> 00:00:25,439 Speaker 2: Good morning, morning Ryan. 9 00:00:25,440 --> 00:00:26,280 Speaker 1: Do you like what you hear? 10 00:00:27,480 --> 00:00:27,640 Speaker 2: Oh? 11 00:00:27,680 --> 00:00:31,520 Speaker 3: Mate, it's fantastic and it's overdue and we're even for 12 00:00:31,560 --> 00:00:35,120 Speaker 3: business on a cynical notice sort of nothing you knew 13 00:00:35,200 --> 00:00:38,320 Speaker 3: under the sun. It's always what was formerly the MZTE 14 00:00:38,440 --> 00:00:41,000 Speaker 3: Trade Ends were meant to do, which is can increase 15 00:00:41,040 --> 00:00:45,880 Speaker 3: our exporting penetration of overseas markets and encourage foreign direct 16 00:00:45,960 --> 00:00:49,600 Speaker 3: investment into New Zealand. But it's about time New Zealand 17 00:00:49,640 --> 00:00:52,640 Speaker 3: came up with this message and started broadcasting it. 18 00:00:52,680 --> 00:00:55,280 Speaker 1: Does it worry you that they're keeping the same ENZT 19 00:00:55,720 --> 00:00:58,520 Speaker 1: staff that have been doing the same job up until now. 20 00:01:00,120 --> 00:01:01,840 Speaker 3: I'm the wrong guy to talk about that, because I 21 00:01:01,840 --> 00:01:05,800 Speaker 3: think the whole government bureaucracy needs a really swift kick 22 00:01:05,840 --> 00:01:10,600 Speaker 3: up to JACKSI that's iron z Dia just they really 23 00:01:10,680 --> 00:01:13,399 Speaker 3: need They've got some plunkers in there who take forever 24 00:01:13,440 --> 00:01:17,080 Speaker 3: to make decisions. Trade ends or NZTU traditionally has had 25 00:01:17,120 --> 00:01:20,520 Speaker 3: some of the smartest guys in the room. It's a 26 00:01:20,560 --> 00:01:23,160 Speaker 3: government department, the smart guys want to be in. And 27 00:01:23,920 --> 00:01:26,480 Speaker 3: this weekend at the Sale GP we attended an event 28 00:01:26,560 --> 00:01:31,280 Speaker 3: there where the Minister of Immigration released the new Investor Program, 29 00:01:31,360 --> 00:01:35,000 Speaker 3: which will become effective on the tenth of March, and 30 00:01:35,840 --> 00:01:40,560 Speaker 3: that should encourage a sort of tsunami, possibly billions of 31 00:01:40,600 --> 00:01:43,839 Speaker 3: dollars out of primarily China coming into New Zealand because 32 00:01:44,160 --> 00:01:48,200 Speaker 3: they're dispensing with the English language test and allowing investment 33 00:01:48,240 --> 00:01:51,600 Speaker 3: back into property. So you know, the statement property market 34 00:01:51,680 --> 00:01:55,040 Speaker 3: may get a bit of a jab in the arm. 35 00:01:55,560 --> 00:01:58,320 Speaker 1: What about infrastructure and tech? Those are the avenues we 36 00:01:58,520 --> 00:02:02,760 Speaker 1: desperately need to open up. What is standing in the way. Well, 37 00:02:02,800 --> 00:02:05,640 Speaker 1: you know when people say, oh, there's roadblocks to foreign 38 00:02:05,680 --> 00:02:08,640 Speaker 1: investment in those areas, what are they? 39 00:02:09,520 --> 00:02:11,760 Speaker 3: Well, those I think a lot of them are about 40 00:02:11,760 --> 00:02:14,720 Speaker 3: perception and they're looking at you know the state of 41 00:02:14,720 --> 00:02:17,760 Speaker 3: our credit rating, our population exchange rates. 42 00:02:17,800 --> 00:02:20,240 Speaker 2: Because if they if they dispose of their assets. 43 00:02:19,840 --> 00:02:22,720 Speaker 3: They're in New Zealand dollars and they're converting back into 44 00:02:22,840 --> 00:02:25,080 Speaker 3: US political stability. 45 00:02:25,400 --> 00:02:27,639 Speaker 2: You know, you look at the shutdown of oil. 46 00:02:27,560 --> 00:02:32,640 Speaker 3: Exploration, the rule of law and the stability of the 47 00:02:32,680 --> 00:02:33,880 Speaker 3: country as well as all. 48 00:02:33,760 --> 00:02:34,840 Speaker 2: The commercial terms. 49 00:02:35,440 --> 00:02:39,640 Speaker 3: So you know, for these sovereign funds to look at 50 00:02:39,680 --> 00:02:41,720 Speaker 3: New Zealand paths for infrastructure. You know, we have a 51 00:02:41,720 --> 00:02:47,040 Speaker 3: small population, we seem to build things slowly. These political 52 00:02:47,080 --> 00:02:50,840 Speaker 3: are these legislative changes and the regulatory framework. If you 53 00:02:50,840 --> 00:02:52,799 Speaker 3: look at Sir Donald Trump, he's up there signing off 54 00:02:52,800 --> 00:02:57,120 Speaker 3: on these edicts within seconds of taking office. You know, 55 00:02:57,200 --> 00:03:00,960 Speaker 3: the truth is the coalition's been in power for what 56 00:03:01,080 --> 00:03:04,000 Speaker 3: over a year now, and it does seem like a 57 00:03:04,000 --> 00:03:06,160 Speaker 3: bit of a you know, slow boat to China in 58 00:03:06,280 --> 00:03:08,720 Speaker 3: terms of releasing this sort of thing. But if they 59 00:03:08,760 --> 00:03:12,679 Speaker 3: do adopt a all of government approach to attract this investment, 60 00:03:14,080 --> 00:03:15,519 Speaker 3: you know, it could put us back up where we 61 00:03:15,560 --> 00:03:18,440 Speaker 3: should be in terms of OECD rankings, et cetera. 62 00:03:18,880 --> 00:03:21,639 Speaker 1: Marcus, thank you, Marcus Beveridge, Queen City Law is a 63 00:03:21,680 --> 00:03:24,680 Speaker 1: managing direct a foreign investment specialist. It sounds like we're 64 00:03:24,720 --> 00:03:26,679 Speaker 1: going to get some movement on at least property in 65 00:03:26,720 --> 00:03:28,120 Speaker 1: the near term, which is good news. 66 00:03:28,480 --> 00:03:31,359 Speaker 3: For more from the Mic Asking Breakfast, listen live to 67 00:03:31,480 --> 00:03:32,040 Speaker 3: news talks. 68 00:03:32,080 --> 00:03:35,280 Speaker 1: It'd be from six am weekdays, or follow the podcast 69 00:03:35,280 --> 00:03:36,160 Speaker 1: on iHeartRadio.