MBIE Report Highlights Importance of Manufacturing

MBIE Report Highlights Importance of Manufacturing

17 April 2018

The report, ‘Beyond commodities: Manufacturing into the future’ released today by the Ministry of Business, Innovation and Employment provides great insight into New Zealand’s manufacturing sector, showing the value it brings to our economy, the potential it holds for future growth and the challenges it faces. The release of the report at a joint EMA and The Manufacturers’ Network event in Auckland featured the Minister for Economic Development, Environment, and Trade and Export Growth, Honourable David Parker, speaking about the report and manufacturing in New Zealand.

“The key to developing policies that can best serve and grow the manufacturing sector is by starting with a good understanding of it. This report is a great step forward in understanding our sector. We are very pleased to see Hon David Parker show a commitment to the manufacturing sector and a willingness to work with industry to further harness its potential. However, the work is just getting started, we now need the Government to follow this up with policy responses to best support growth in manufacturing.” says Dr Dieter Adam, CE, The Manufacturers’ Network.

“The report also acknowledges the importance and contribution of so called low and medium tech manufacturing. It’s easy to get caught up in the high-tech and IT sectors, but we cannot forget or undervalue the hard work and critical contribution in employment, growth and exports that low and medium tech manufacturing brings to our economy.

“There are a number of policy areas which could be improved to support further growth, employment and export returns for the manufacturing sector. For example, it is critical we work to address skill shortages that hold back companies from meeting their potential. In addition, we need to see better support for innovation by introducing Research and Development Tax Credits, as promised before the election, along with policies that encourage investment for improved productivity and therefore global competitiveness.

“Any specific polices also need to be backed up by a wider whole of economy approach that pushes New Zealand in a more productive direction – this is how we can substantially improve productivity and living standards.” Said Dr Adam.
The report can be read in full at www.mbie.govt.nz/manufacturing
ENDS

© Scoop Media