Although New Zealand has a healthy economy, its productivity has lagged compared to other top European countries. To improve Kiwis’ quality of life, New Zealand must increase production and invest in more productive areas. They must also expand an economy sustainably and inclusively. To address the economy and other challenges, the government is implementing active industry policies to boost the state of the economy of the country.
While the nation grapples with productivity challenges, the allure of comparing online casino bonus offers may provide a welcome diversion. This article will explain the core sectors that might unlock the New Zealand industrial policy debate.
Manufacturing
Within the ITP, the phrase ‘advanced manufacturing’ encompasses all forms of production in Aotearoa, New Zealand. Manufacturing in the main and secondary sectors are both encompassed here. Rather than implying that the finished goods are particularly high-tech, the word ‘advanced’ describes incorporating contemporary business techniques, procedures, and technology into the production process.
Thus, the production of anything from computer chips to branded chocolate falls under the purview of this Advanced Manufacturing ITP.
Implementing Advanced Manufacturing
All parties must remain committed to implementing the plan. The plan’s Steering Group prioritised the execution of a subset of the actions. The original $30 million the government invested to launch the Advanced Manufacturing ITP Action Plan also covers these. Seven early measures have been initiated since the plan’s introduction in March 2023:
| Initiative | Timeline | Details |
| Smart Industry Readiness Index | Yearly | Evaluates 30–100 businesses on preparedness for cutting-edge processes and technology. |
| Fresh Programme Implementation | Year 1 (ongoing), Year 2 (testing), Year 3 | Offers tailored guidance for implementing advanced technology and procedures for increased output and efficiency. |
| Demonstration Events Increase | Year 2 (and onwards) | Increases annual demonstration events to 100 and introduces a second mobile showcase for breakthrough technologies. |
| Technology Investment Network (TIN) Report | September 2023 | Releases first report titled ‘Advanced Manufacturing’. |
| Review of New Zealand Product Accelerator | Ongoing | Prepares for potential changes and expansions in the accelerator programme. |
| Perception Study on the Advanced Manufacturing Industry | Ongoing | Assesses public perceptions to guide future efforts in changing attitudes towards advanced manufacturing. |
| Two-Year Global Research Programme | Year 1 (ongoing), Year 2 (planning) | Researches innovative manufacturing worldwide, focusing on 10-15 enterprises in the US. |
AgriTech Industry
The agritech industry transformation strategy aims to make agritech world-class. It was developed with an all-government agritech taskforce, AgriTech New Zealand, and the agritech ecosystem. In a zero-carbon economy, it proposes long-term agritech sector transformation to make it more productive, sustainable, and inclusive.
The goal is to support the agritech sector in accelerating expansion and attracting critical investment. The team will work towards increasing New Zealand Agritech IP commercialisation, impacts in worldwide markets, and boost exports. The strategy will also improve skills and address regulation and data interoperability.
Advancing New Zealand’s Agritech Sector
The new agritech industry transformation plan envisions “a globally-recognised agritech sector generating solutions for a better world”. It intends to boost New Zealand’s agritech sector to $8 billion by 2030. The updated plan emphasises enhancing corporate capabilities, encouraging Māori engagement, fostering agritech investment, and expanding global links.
Digital Technologies
The Digital Technologies Industry Transformation Plan (ITP) was established with the industry over the previous few years. The vision is: “Aotearoa New Zealand leads ethical, innovative, inclusive, and sustainable digital technologies. These innovations strengthen our economy, help our firms compete internationally, and improve the lives of all New Zealanders”.
The digital technology sector contributed $7 billion to New Zealand’s GDP in 2021 and has risen twice as fast as the economy since 2016. Industry participation in the Digital Technologies ITP has been good in recent years and now focuses on government and industry working together to implement significant action to maximise sector potential.
By boosting digital sector growth, this ITP helps New Zealand become a diverse, lower-emissions, higher-wage, and more resilient economy.
Priorities of ITP
The ITP has four immediate priorities:
- Export success: Increasing New Zealand’s digital technology companies’ export potential, starting with SaaS and moving to game creation.
- Telling our tech story: Showing global and domestic audiences the possibilities of digital technology in New Zealand.
- Enhancing the skills and talent pipeline: Giving more New Zealanders from diverse backgrounds the technical and soft skills they need to succeed in the digital technologies sector and expand their enterprises.
- Enhancing Māori inclusion and enterprise: Fostering Māori leadership and engagement in digital technologies, building on mātauranga Māori.
Future key areas include data-driven innovation, AI, and government procurement. A Digital Technologies ITP Partnership Board oversees ITP deployment. The board includes industry, sector, and government officials.
Tourism
The Tourism Industry Transformation Plan (ITP) aimed to shift Aotearoa tourism towards a more sustainable model through collaboration with the industry, Māori, unions, workers, and government. ITPs used high-intensity, high-engagement industrial policy to create a revolutionary vision and action plan for important New Zealand industries.
Because tourism is vital to the New Zealand economy and the loss of international visitors presents an opportunity to construct a more sustainable tourism system, it was chosen for an ITP. Tourism communities: Support, Recovery, and Re-set Plan funded Tourism ITP development.
The Phased Approach of the Tourism ITP
The Tourism ITP sought to create a regenerative tourism system. A regenerative tourism system improves individuals, communities, and the environment and extends sustainability.
Tourism issues in New Zealand have been extensively examined and consulted. Given this previous work, the Tourism ITP used a phased approach and focused on targeted initiatives to drive systemic change rather than collecting industry complaints and challenges.
The first phase of Tourism ITP focused on better work for tourism. People must be prioritised to reform the tourism system. Investment in tourist workers is key to other dramatic developments.
Conclusion
Ultimately, the industrial policy debate in New Zealand covers a wide array of intricate matters, including technology advancement, agritech, digital transformation, and tourism. By thoroughly examining these niches and implementing strategic reforms, New Zealand has the potential to discover fresh avenues for economic growth and prosperity in the future.
