But New Zealand also needed to recognise the many benefits that foreign ownership could bring. Foreign ownership in the rural sphere had been very influential in the forestry, viticulture and pipfruit sectors and those sectors would not be where they were today without it. Despite common perceptions, foreign ownership had been less influential in sectors such as dairy and meat and fibre. Current angst over foreign ownership deflected attention from the heart of the issue — New Zealand’s poor savings record, the resulting reliance on foreign savings and poor relative investment returns. That highlighted many of the foreign ownership approvals were joint ventures with New Zealand companies.

Source: Otago Daily Times December 17, 2017 16:07 UTC