Summit puts NZ on investment map

By Libby Middlebrook

The Apec CEO Summit had 48 hours to sell New Zealand to foreign investors who used to think the country was just a nice tourist spot.

Now the country's promoter - the CEO Summit Strategic Investment Group - reckons New Zealand has firmly planted itself on the global-investment map.

"In every case I am aware of, the summit has led to a new level of interest in New Zealand business," said Errol Clark, chairman of the Strategic Investment Group.

Hundreds of New Zealand businesspeople and foreign executives met to discuss investment opportunities, with the most interest coming from Chinese, Korean and United States delegates.

Mr Clark said he was aware of several business transactions that were likely to flow from those discussions.

"There are more than I would have imagined, particularly within the technology sector, natural resources and agriculture."

He said companies such as AUNET Corporation, a US-based internet investment firm, was just one of many companies now showing interest in New Zealand.

"From making them aware of what New Zealand is doing in information and communications technology, they're interested in exploring opportunities here. That's solely as a result of the last 24 hours."

Greg Williamson, communications manager of Christchurch-based software company Jade, said Apec had opened up discussions between Jade and foreign companies, who were interested in its software.

Mr Clark said it could take from four weeks to two years to see benefits from the summit, but New Zealand was now on the "radar screen" of many foreign companies.

Mr Clark wants the Government and business leaders to pick up the Strategic Investment Group's initiative and establish a new organisation to concentrate on promoting New Zealand as an investment destination.

"It is critical that there be an explicit plan of action developed from this point. We don't want people coming in and simply acquiring existing assets, we want them to come here and use the skills and talents to create new industries. We have to focus on asset creation, rather than asset transfer."