Gov't to help New Zealand firms find overseas capital in export drive

WELLINGTON, July 4 (Xinhua) -- The New Zealand government Thursday launched a new scheme to help businesses raise capital from home and abroad to boost exports.

The Better by Capital scheme aimed to help businesses meet the government's target of raising exports to 40 percent of GDP by 2025, but this was estimated to require an increase in total investment in export industries of 70 percent to 90 percent, said Economic Development Minister Steven Joyce.

"To reinvigorate our capital markets and build a stronger and more productive economy, we need to attract significant overseas investment in this country. Well-functioning capital markets are essential for our businesses to grow and create jobs that support New Zealand families," Joyce said in a statement.

Research for the government's New Zealand Trade and Enterprise (NZTE) agency found some potentially high-growth firms had difficulty accessing capital because of a lack of capital or lack of knowledge, but Better by Capital would enable the NZTE to develop a tailored capital plan for businesses, he said.

"If we want more jobs and higher incomes then the New Zealand economy needs a lot more investment, including from overseas investors," Joyce said.

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