1 00:00:00,160 --> 00:00:02,280 Speaker 1: Now from the Good Ideas Department. The suggestion over the 2 00:00:02,279 --> 00:00:04,760 Speaker 1: weekend from Shane Jones, no less that Singapore wants in 3 00:00:04,880 --> 00:00:07,280 Speaker 1: on some of our foreign investment for infrastructure. We want 4 00:00:07,280 --> 00:00:10,680 Speaker 1: their money, they want our food security. Seems simple. Queen 5 00:00:10,760 --> 00:00:13,960 Speaker 1: City Laws. Marcus Beveridge specializes in foreign investment, and he's 6 00:00:14,000 --> 00:00:16,680 Speaker 1: well this Marcus, morning to you morning. 7 00:00:16,720 --> 00:00:18,000 Speaker 2: Make has it hang very well? 8 00:00:18,040 --> 00:00:20,119 Speaker 1: I was a little bit surprised about all of this, 9 00:00:20,200 --> 00:00:22,759 Speaker 1: and I thought we were close with Singapore. They're an 10 00:00:22,840 --> 00:00:25,200 Speaker 1: entrepreneurial sort of city. They've got to carve out with 11 00:00:25,200 --> 00:00:27,120 Speaker 1: a foreign investment. I would have thought we'd be into 12 00:00:27,120 --> 00:00:30,080 Speaker 1: this already, sort of floated as a new idea. Seems 13 00:00:30,120 --> 00:00:30,639 Speaker 1: weird to me. 14 00:00:32,040 --> 00:00:35,000 Speaker 2: Well, what about the exquisite irony of Shane and Winston 15 00:00:35,080 --> 00:00:37,880 Speaker 2: out there promoting this when near the sort of reds 16 00:00:37,960 --> 00:00:40,480 Speaker 2: under your beds and Japanese submarines and the harbor guys. 17 00:00:40,520 --> 00:00:44,720 Speaker 2: I mean, look, fantastic guy there. The Singaporeans have been 18 00:00:45,159 --> 00:00:48,320 Speaker 2: big players in our commercial property market for a long time, 19 00:00:48,400 --> 00:00:52,879 Speaker 2: but getting them to invest into our infrastructure is a 20 00:00:52,920 --> 00:00:55,520 Speaker 2: novel and really good idea. But whether we can pull 21 00:00:55,520 --> 00:00:57,840 Speaker 2: it off or not, I'm not so sure. 22 00:00:58,240 --> 00:01:00,960 Speaker 1: What would do some well. 23 00:01:01,080 --> 00:01:03,200 Speaker 2: Thirty years ago we tried to get to Maussak, the 24 00:01:03,240 --> 00:01:06,560 Speaker 2: investment arm of their government, to invest in an internationally 25 00:01:06,560 --> 00:01:10,679 Speaker 2: important Taupo, which sounded like a great idea at the time, 26 00:01:10,720 --> 00:01:13,840 Speaker 2: but it didn't really happen. I think the problem is 27 00:01:14,240 --> 00:01:19,120 Speaker 2: reputationally at the moment, despite our regulatory framework being probably 28 00:01:19,440 --> 00:01:28,080 Speaker 2: considered attractive, we're not seen as a positive jurisdiction to 29 00:01:28,120 --> 00:01:29,160 Speaker 2: invest in at the moment. 30 00:01:29,480 --> 00:01:32,440 Speaker 1: Wouldn't that be changing given that Peters is out there 31 00:01:32,480 --> 00:01:35,440 Speaker 1: every second day beating the drama and Luxin is not 32 00:01:35,480 --> 00:01:36,240 Speaker 1: far behind him. 33 00:01:37,360 --> 00:01:40,720 Speaker 2: Our hats off to Winston for doing that. But I 34 00:01:40,760 --> 00:01:43,440 Speaker 2: think we're sort of seen as the lawless West at 35 00:01:43,480 --> 00:01:45,760 Speaker 2: the moment. There's not so much the Aussie criminals. It's 36 00:01:45,760 --> 00:01:50,000 Speaker 2: probably more the Kiwi criminals. We've we've also with immigration, 37 00:01:50,080 --> 00:01:53,920 Speaker 2: we've damaged some relationships there. We had a client who 38 00:01:53,960 --> 00:01:56,360 Speaker 2: has two hundred and fifty million dollars worth of hotels here, 39 00:01:56,360 --> 00:02:01,560 Speaker 2: employees five hundred Kiwis and just he was decked around 40 00:02:01,600 --> 00:02:05,440 Speaker 2: by our bureaucrats and Wellington and pulled the plug. So, 41 00:02:06,920 --> 00:02:08,720 Speaker 2: I mean, it's a great idea they've got. I was 42 00:02:08,720 --> 00:02:11,160 Speaker 2: trying to work out what their investment fund is it 43 00:02:11,440 --> 00:02:15,480 Speaker 2: actually equates for about five hundred thousand million New Zealand dollars, 44 00:02:15,560 --> 00:02:21,480 Speaker 2: But they're shrewd investors and I don't know. I mean, 45 00:02:21,480 --> 00:02:24,640 Speaker 2: if you look at the underground railway, it should have 46 00:02:24,639 --> 00:02:26,680 Speaker 2: taken two years and cost two billion dollars and it's 47 00:02:26,720 --> 00:02:29,959 Speaker 2: sort of ten years later and getting close to ten billion. 48 00:02:30,000 --> 00:02:32,959 Speaker 2: I think, Leekon you would be turning in his grave. Yeah. 49 00:02:32,960 --> 00:02:34,640 Speaker 1: No, that's a very good point. So what you're saying 50 00:02:34,680 --> 00:02:37,400 Speaker 1: is one you need to get across the hurdle reputational damage. 51 00:02:37,480 --> 00:02:39,520 Speaker 1: If you get across that hurdle, you then put your 52 00:02:39,560 --> 00:02:41,400 Speaker 1: money into the country to watch watch a bunch of 53 00:02:41,720 --> 00:02:44,520 Speaker 1: road cones hold up everything and blow out at twice 54 00:02:44,560 --> 00:02:47,320 Speaker 1: the price. So we've got to fix that as well well. 55 00:02:47,360 --> 00:02:50,080 Speaker 2: Set I mean, that's it. And yeah, so that whole 56 00:02:51,120 --> 00:02:55,840 Speaker 2: governance around projects and how we get stuff done efficiently, Yeah, 57 00:02:56,120 --> 00:03:00,720 Speaker 2: it's a you know, they're not stupid and so there's 58 00:03:00,760 --> 00:03:02,760 Speaker 2: a real politic thing to deal with there. But the 59 00:03:02,840 --> 00:03:04,959 Speaker 2: idea that Shane Jones has is a great idea. 60 00:03:05,040 --> 00:03:07,120 Speaker 1: Yes, it is all right, Marcus, appreciate the insight. We'll 61 00:03:07,120 --> 00:03:09,400 Speaker 1: talk to the Prime Minister about it shortly. Marcus Beverage, 62 00:03:09,480 --> 00:03:12,440 Speaker 1: who's with Queen City Law? Mike, you didn't answer the 63 00:03:12,480 --> 00:03:16,280 Speaker 1: question how's it hanging, It's hanging as it always does. 64 00:03:16,800 --> 00:03:19,720 Speaker 2: For more from the Mic Asking Breakfast, listen live to 65 00:03:19,840 --> 00:03:22,880 Speaker 2: news talks It'd be from six am weekdays, or follow 66 00:03:22,960 --> 00:03:24,519 Speaker 2: the podcast on iHeartRadio.