Investment Prerequisites

Press, Volume CVI, Issue 31128, 3 August 1966, Page 1

Investment Prerequisites

(N.Z. Press Association) WELLINGTON, August 2.

New Zealand did not need overseas investment so badly that it must be taken on any terms, the Minister of Overseas Trade (Mr Marshall) said tonight

Speaking at an American Trade Association of New Zealand dinner, he said the stage had now been reached in this country’s economic development when more attention had to be paid to the

direction of overseas investment, to the- conditions of its entry, and to its influence on New Zealand economy. “We need overseas investment which will have marked beneficial effects on our balance of payments, particularly in the medium and long term, on productivity and income generation, and on the advancement of the skills of our already well-educated population.

“We would like to see overseas and domestic capital working together, to a greater extent than has occurred In the past, and in the case of new undertakings involving overseas investment, New Zealand equity capital being invited to share the risks and rewards from the start. “Overseas investment bringing these advantages will always find a favourable climate in New Zealand.”