15.4 C
Auckland
Saturday, June 22, 2024

Popular Now

NZ investors receive boost after US grants excepted status

Investment news

New Zealand has been granted excepted foreign state investor status from the United States, making it easier for New Zealand investors to invest in the US and deepen ties with a key trade partner.

“This is a very positive outcome for New Zealand after being granted provisional excepted status in January 2022. We are one of only a few countries to be awarded this status,” Grant Robertson said.

“Ministers and officials from across a number of agencies have worked tirelessly to secure an exemption and I would like to thank them for their efforts and hard work in achieving this goal.

“New Zealand’s inclusion in the excepted states list alongside Australia, Canada, and the UK will lower the barriers for New Zealand investors and support further growth in investment into the US and provide more options for diversification.

“New Zealand firms developing critical technologies or dealing with critical infrastructure such as renewable energy, as well as in personal data, stand to benefit. It also makes it easier for government investment vehicles like the NZ Super Fund to invest in the US in areas such as green technologies.

“Receiving excepted foreign state investor status has been a priority for New Zealand since 2018, when the US introduced reforms that increased the requirements for screening investments in sensitive areas. Australia, Canada and the UK were given exceptions in 2020 and put New Zealand investors at a disadvantage when compared to investors from these countries.

Trade and Export Growth Minister Damien O’Connor welcomed the status.

“This is a positive step towards stronger trade and business links with a very good friend of New Zealand,” Damien O’Connor said.

“New Zealand has undertaken a series of reforms to the Overseas Investment Act since 2018, including around investment screening, bringing the Act in line with overseas investment regimes, including in the US,” Grant Robertson said.

“This decision reflects US confidence in New Zealand’s foreign investment regulatory settings and the close relationship between the two countries.”

Promoted Content

No login required to comment. Name, email and web site fields are optional. Please keep comments respectful, civil and constructive. Moderation times can vary from a few minutes to a few hours. Comments may also be scanned periodically by Artificial Intelligence to eliminate trolls and spam.

2 COMMENTS

  1. I wonder why this is not taught in schools? It seems important enough. Oh, that’s right…
    But what has been done to us is even more simple.
    Roger Douglas sold our stuff to the US in 1986. And got a knighthood for doing it. He took our taxpayer funded NZ owned electricity company and any other profitable taxpayer owned enterprise and sold them for peanuts sorry – put them on the stockmarket. We now we pay foreign investors dividends so we can have electricity. Prior to that man destroying the country, we had negligible electricity bills every two months, NZRailways also. Fay Richwhite asset strippers bought it, took all the hardwood from under the rails and anything else of value and then sold it. Back to the NZ Govt. Who have never managed to get trains running since. Wonder why food is so expensive? Thousands of acres of farmland is now owned by foreign firms and planted in pine trees. Rothschilds own vineyards in Central Otago.
    The predatory American rent seekers are everywhere and if you don’t do what they want, they create a problem and send in their military to sort it out. Ave imperator morituri te salutant.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Trending

Sport

Daily Life

Opinion

Wellington
scattered clouds
11.9 ° C
13.8 °
9.4 °
68 %
5.7kmh
40 %
Sat
12 °
Sun
11 °
Mon
12 °
Tue
11 °
Wed
10 °