New Zealand First says the Overseas Investment Office (OIO) approval of the sale of the New Zealand Super Fund’s forestry assets to the Chinese Government is an appalling example of everything that is wrong with National’s approach to growing the economy. Source: Voxy.co.nz
Primary Industries spokesman Richard Prosser says the sale would not create one single job in New Zealand, and would perpetuate the unsustainable practice of this country being an exporter of unprocessed bulk commodities.
“The purchase of New Zealand forests by the Chinese Government is not foreign investment; it’s a transfer of wealth.
“They won’t build any new sawmills, they won’t build any new particle board mills they will simply continue to export bulk logs for processing in China.
“The export of raw logs has increased under this Government by 10% since 2009.
“These are logs that should be processed in New Zealand, by New Zealand workers so that the wealth generated is kept in this country.
“The primary sector is the engine room of the economy, and right now we are giving most of its value away to foreigners. This unsustainable waste of wealth and resources will send us broke and must not be allowed to continue,” says Prosser.
