EXPANSION OF INDUSTRY
Drive Urged By Dr. Sutch
(New Zealand Press Association) WELLINGTON, Aug. 23, New Zealand would have to marshal all its human and material resources in a drive for industrial growth at home and expansion and diversification of markets abroad, said the Secretary for Industries and Commerce (Dr. W. B. Sutch) in his annual report tabled in the House of Representatives today. The rate of growth of manufacturing industries was inadequate and there was a real doubt that the development of farming alone could provide a permanent solution to New Zealand’s fundamental problems. More basic industries which made materials and parts previously imported should be developed. Whether domestic or imported materials were used, the aim should be manufacture at the closest possible stage to the basic raw materials.
Of the major new projects announced in 1959-60 most would produce at prices no higher, and sometimes less, than the average import prices, and in a few cases where prices were above the prices of comparable imports, the difference would be not more than about 5 per cent.
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Press, Volume XCIX, Issue 29291, 24 August 1960, Page 12
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178EXPANSION OF INDUSTRY Press, Volume XCIX, Issue 29291, 24 August 1960, Page 12
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