MÄÂori: Future-makers, not future-takers

The collective Māori asset base is growing rapidly but needs to be diversified and the innovation economy embraced if opportunities are to continue to be unlocked.

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The collective Māori asset base is growing rapidly but needs to be diversified and the innovation economy embraced if opportunities are to continue to be unlocked, says Māori Affairs Minister Parekura Horomia.

The asset base is now worth an estimated $16.5 billion - an 83 percent increase since 2001.

Mr Horomia revealed the figure this evening while presenting a new Māori potential forecast report titled Ngā Kaihanga Hou - for Māori future makers, prepared by Te Puni Kōkiri.

"As part of its wider sustainability drive, the Labour-led government had repeatedly highlighted the need for economic transformation focusing in on innovation and quality. This is necessary to ensure our economy remains competitive in a world where high volume, low quality goods and services will undercut us on price.

"The challenge applies to those holding collective Māori assets - indeed it is of particular relevance because the assets are concentrated in the more vulnerable primary industries of agriculture, forestry and fishing where innovation will be critical to maintaining profitability."

"Ngā Kaihanga Hou is a tool to help understand the future drivers of influence that will affect Māori participation and investment decisions and will help us position Māori in the future economic system looking out to the year 2030," Mr Horomia said.

"It also reveals that we have a sound and growing base from which to launch into the future. In 2001 the Māori asset base was estimated to be around $9 billion. Latest data shows the Māori asset base in 2005/06 growing to an estimated $16.5 billion."

"We know the world economy is changing and is more and more driven by innovation and new technologies. This new economy will be determined by intellectual capital and the ability to translate ideas into new technologies, products and services.

"Māori will need to keep changing and adapting to stay relevant in the new innovation economy. Our biggest asset in this new economy will be our people.

"We need to understand future opportunities and pressures to ensure that our people have access to the right education, opportunities and investment information to make positive decisions about the future.

"Building on our success and understanding our weaknesses will ensure confidence to face this exciting future knowing that we are prepared," says the Minister.


. Ngā Kaihanga Hou is available on the Te Puni Kōkiri website: www.tpk.govt.nz