Have your say: Offshore owned

The latest land acquisition by a Chinese company is Far North dairy farms, says a reader.

We have witnessed a Chinese company purchase Crafer farms, some seven dairy farms in total. New Zealanders are unable to compete with offshore investors.

A Chinese company has built a large processing factory at Pokeno that can process from up to 1500 suppliers.

The latest land acquisition by a Chinese company is the Far North dairy farms owned by Mervyn and Cara Pinny west of Kaikohe, once again offshore money.

The banks have financed these acquisitions and when things get tough, cash in with no loss to themselves.

The Chinese companies now have the productive base, land and the processing factory to export to wherever they like, the profits going to the offshore owners, what's in it for NZ?

The rate- and taxpayers are providing the infrastructure facilities such as roading for them to operate, while some agencies are reaping the financial benefits from this offshore money in the way of purchasing property.

It is the next generation of New Zealander that is being short changed in my view, and the politicians are to blame, the investing of $300 million by the present government offshore and lost would have been more beneficial invested in NZ.

At one time, we had a stabilisation account for the dairy industry run by the dairy board and government of the day which controlled the highs and lows and had an effect on inflation and future budgeting.

The way things are going when will Fonterra be offshore owned?

John Coleman
Kaikohe