23rd May 2008

IPENZ- New emphasis on high- tech industry
is the right direction

IPENZ believes new funding in high technology industries announced in the Budget is the only way to ensure New Zealand’s future economic growth.

“Let's hope that by investing $57 million in high technology industries and manufacturing is the start of a new emphasis on the need to assist these high technology sectors in parallel with innovation funding in the pastoral and food sectors,”  says Dr Andrew Cleland, IPENZ Chief Executive.

“Whilst a well performing biological sector will ensure that New Zealand drops no further down the OECD league table, we also need a major focus on creating high tech industries in the manufacturing, ICT and design industries that will create high skilled jobs. The Budget announced R & D funding which will allow NZ companies to work with the research community to develop high tech manufacturing, ICT, new materials and sophisticated engineering,” says Dr Cleland.

“This new emphasis on high tech funding shows the Government has realised no nation has become wealthy on biology alone. The very rapid rises in prosperity of a large number of nations in Asia is because of investment in product engineering and associated industrial design. This creates high productivity and a highly skilled workforce. In order for New Zealand to make any significant economic prosperity we need to build the physical technology-based industries alongside our commodity industries,” he says.

For more information contact:
Andrew Cleland
Chief Executive, IPENZ, Engineers New Zealand.
Mobile: 021 311 879
DDI: 04 474 8935

Prepared by Julie Buchanan,
Communications Manager, IPENZ, Engineers NZ,
DDI: 04 473 2028, cell: 021 479 885