NZ seeks to ‘turbocharge’ investment ties with Malaysia, Asean

Free Malaysia Today

New Zealand's prime minister, Christopher Luxon, says his government is working to attract more capital from Malaysian and regional investors.   Read More:   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------ Check us out at https://www.freemalaysiatoday.com Follow FMT on Facebook: https://bit.ly/49JJoo5 Follow FMT on Dailymotion: https://bit.ly/2WGITHM Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h Follow FMT on TikTok : https://bit.ly/3uKuQFp Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX Follow FMT LinkedIn - https://bit.ly/42YytEb Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------ Download FMT News App: Google Play – http://bit.ly/2YSuV46 App Store – https://apple.co/2HNH7gZ Huawei AppGallery - https://bit.ly/2D2OpNP  #FMTExclusive

Transcript

00:00With global competition intensifying, New Zealand is setting its sights on ASEAN, and

00:05Malaysia in particular, as it looks to deepen trade and investment links across the region.

00:11FMT spoke with New Zealand Prime Minister Christopher Luxon in Auckland to discuss his

00:16administration's plans.

00:18Interviewed by Ibrahim Sani, Luxon explained how his government is looking to attract more

00:23capital from Malaysian and regional investors, and how New Zealand hopes to strengthen business

00:28to business ties across ASEAN.

00:30You know, Malaysian investors have been very successful here in New Zealand.

00:33They understand the market.

00:34They've been coming here for a long time, and are hugely respected within New Zealand.

00:39And so we just want to turbocharge all of that and ultimately also encourage opportunities

00:44for New Zealand firms to make a contribution to, you know, building up the Malaysian economy

00:49as well.

00:50Luxon said his country is introducing major reforms to its overseas investment act to

00:54attract foreign investment.

00:57Could there be more overtures from the New Zealand government in trying to attract more

01:02companies?

01:03Not just from Malaysia, but of course from ASEAN.

01:04We have simplified our planning laws so that projects get done much faster by opening up

01:09something called Fast Track, which means a one-stop shop to get all your resource and building

01:13consents that you need to get projects away.

01:16And importantly, we've also got something called Investment Boost, which is essentially a

01:1920% tax write-off for any investments in plant, capital and equipment.

01:23And for a lot of our projects here in the country, that really does matter.

01:27The New Zealand Prime Minister said his government was also keen to attract skilled labour to

01:32its shores.

01:32workers.

01:33What about mobility of workers?

01:37Would that be a little bit more lax on top of the corporate incentives that has been

01:41presented by your government?

01:43When the rest of the world is tightening up some of its immigration settings, we're wanting

01:46to attract investment to the country and also obviously skilled people as well that can

01:51make a contribution.

01:52And so we'll continue to look at those settings and it's always important, as you know, in

01:56immigration to make sure that your immigration settings are tied to your infrastructure development

02:01and obviously to your economic strategy as well.

02:03Beyond investment, Luxembourg State New Zealand is broadening cooperation with ASEAN in high-growth

02:08sectors from renewable energy and halal food to space and technology.

02:13You were talking about the halal industry, perhaps a little bit more ideas coming from

02:19Mr. Prime Minister in terms of where are the industries that you're looking at in terms

02:22of deepening the depth of the industries.

02:25Well, probably people don't, they know us for agriculture, but they don't realise that

02:28we're also the third biggest launcher of rockets into space.

02:31You know, we have a fantastic, yeah, yeah, I mean, we have a fantastic rocket programme here

02:35and advanced aviation and space sector that's growing very, very quickly.

02:41And so, you know, that's been a key area of growth for us.

02:45Yeah, I know a lot of people think of us as the country that has a lot of, you know, a

02:48lot of sheep and a lot of cattle, but actually we're also a country that is doing a fantastic

02:52job in services and particularly in technology.

02:55With Luxembourg at the helm, Malaysia and the rest of ASEAN appear set to expand their partnership

03:00with New Zealand significantly.

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