BUSINESS

Business Growth Agenda net benefit to the economy

Monday 18 November 2013, 5:53PM
By Business NZ
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The latest progress report on the Business Growth Agenda shows milestones being achieved towards the Government’s goal of a more competitive, productive economy, says BusinessNZ.

Chief Executive Phil O’Reilly says business and the wider community will take confidence from the integrated planning being implemented in key areas of the economy.

“Focusing on growth objectives for the six key areas of exports, capital markets, innovation, skills, natural resources and infrastructure is starting to pay off.

“In the context of the Business Growth Agenda, New Zealand is already showing higher GDP, increased market capitalisation, more investment in innovation, higher qualification achievement rates and the achievement of a number of infrastructure milestones.

“It will be important for all concerned to stay the course and remain disciplined over the medium term in order to gain success in the larger goal of exports making up 40% of GDP by 2025, which is still a big hill to climb,” Mr O’Reilly said.

“Learning from the process so far indicates the need to keep measuring, refining and retargeting the Business Growth Agenda.  Perhaps future progress reports could focus on a smaller number of the most significant objectives for growth.

“Overall however, the Government’s commitment to planning, delivery and public accountability is beginning to provide a net benefit to the New Zealand economy.”