Economic Development Minister Steven Joyce today announced Cabinet approval of a new national strategy to attract more international business investment and increase growth across the country.
The strategy will align activities within several Government agencies, including New Zealand Trade and Enterprise Callaghan Innovation and Treasury.
"It is a competitive world for investment," Mr Joyce said.
"While we have been seeing good growth overall in recent years, we need to sustain that and expand on it to really see a step-change in economic activity across New Zealand.
Mr Joyce described the strategy as "a joined-up national investment attraction strategy" which would aim to build a "pipeline of investable opportunities" to promote overseas.
"We need to attract more international investors into opportunities that grow new industries, put more capital into existing industries, and attract investment and job growth in regions around New Zealand," he said.
The strategy has three priorities; to attract high-quality foreign direct investment, to attract overseas investment in research and development and to expand the pool of smart capital.
Mr Joyce said the strategy would complement other plans to encourage investment and dovetail with regional growth strategies in Northland, Bay of Planty and Manawatu.
Mr Joyce said the nation needs to attract more foreign investment to grow new industries, put more capital into existing industries and increase jobs in the regions.