Hon Steven Joyce

Minister for Economic Development
29 September 2016

NZ moves up Global Competitiveness Index

New Zealand has been ranked 13th in the Global Competitiveness Index 2016/17 – up three places since 2015/16 and up ten places since 2012/13.

The index, which ranks a range of economic and social indicators, assesses the competitiveness of 138 economies and provides insight into the drivers of productivity and prosperity.

“Of the twelve pillars, New Zealand is ranked first in the world for financial market development which includes the soundness of our banking system, and ease of access to loans and capital,” Economic Development Minister Steven Joyce says.

“The index ranks New Zealand first in time to start a business, the number of procedures to start a business, efficacy of corporate boards, and strength of investor protection.”

Other findings include:

• 2nd for transparency of government policy making

• 2nd for ethical behaviour of firms

• 2nd for effectiveness of anti-monopoly policy

• 5th for efficient use of government spending

• 9th for quality of our education system

“The report highlights the good work this Government is doing to reduce the cost of doing business and create a competitive and productive economy,” Mr Joyce says.

“Through our comprehensive Business Growth Agenda and Better Public Services programme we are working to support an environment where businesses have the confidence to invest, grow and create more and better paying jobs for Kiwis and their families.”

The full report is available here.

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