Auckland signs Beijing investment agreement

Media release
12 May 2012

Auckland signs Beijing investment agreement

An agreement to create closer business links and promote bilateral investment between Auckland and Beijing has been signed in Auckland today.

Auckland Tourism, Events and Economic Development (ATEED) CEO Brett O’Riley signed the Statement of Co-operation with the Beijing Investment Promotion Bureau Vice Director-General Mr Shui Yong.

Mayor Len Brown has welcomed the agreement which is a direct outcome of Auckland Council’s recent trade mission to China.

“We received a warm reception from the Mayor of Beijing, Mr Guo Jinglong and I am thrilled our visit has directly and rapidly resulted in closer links as we work to realise Auckland’s potential as an international city. The business leaders on the mission were superb ambassadors for Auckland, and a close link between our cities’ economic development agencies is a significant outcome.”
Mr O’Riley says the agreement marks the beginning of a formal relationship between the two agencies which has the potential to benefit both cities.

“This agreement is about working together to link companies and investors between the two cities. China is identified as a focus market for ATEED’s investment activities and the Beijing Investment Promotion Bureau has the potential to open the right doors for us and vice versa.”

Mr O’Riley says the potential benefits from the agreement are significant however they will only be realised by action and hard work.

“We will be working together to exchange investment information, link key businesspeople and investors from the two cities and pave the way for some real impacts on Auckland’s economy.

“The measure of success will be the value of deals done and numbers of businesses establishing in each other’s cities,” he says.

An important part of ATEED’s business and sector development role is to facilitate foreign direct investment from key targets markets, including China, into Auckland’s growth sectors.

The Icehouse CEO Andy Hamilton, who was on the recent trade mission to China, sees this agreement as a meaningful step forward in accessing potential investors.

“This type of collaboration is hugely valuable if we are to attract investment to Auckland businesses from the all-important Chinese market. This agreement has the potential to pay real dividends.”

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