The latest growth figures from Statistics New Zealand and the latest OECD report review of our economy, published yesterday, show that while our economy keeps growing, we’re lacking in areas that can really make us a wealthier nation, say the New Zealand Manufacturers and Exporters Association.
NZMEA Chief Executive Dieter Adam said, “Our GDP is rising, but on a per capita measure, it is much less impressive – we need to harness our potential and work on growing our high-value productive industries to improve this. Real GDP per capita growth in New Zealand is currently below the OECD average, and remains well below what we achieved for the 20 years up to 2007, as the latest OECD figures show.
“Productivity improvement is the key to improving our economic growth, incomes and wealth over time, however, it continues to lag in New Zealand. For example, the OECD report highlights labour productivity in terms of GDP per hour worked falling consistently behind Australia and the United States over the last 20 years.
“The thing is – as Sir Paul Callaghan told us many times before his untimely death in 2012 – we’re not going to grow the value of what we create every hour from having more tourists and more cows in the country; hence the title of his last book “Get off the Grass”.
“To really grow our economy, we need to produce and export more high-value goods and services, and we need to do so more efficiently, increasing productivity. Manufacturing and ICT, two sectors growing more and more intertwined as digital technologies penetrate our manufacturing businesses, already are key contributors to our economy, and they primarily are the ones to turn to when we look for more high-value products and services.
“The key to growth in manufacturing and ICT is innovation, and in the case of manufacturing, process innovation. There is a raft of new digital technologies coming to manufacturing, often referred to as Industry 4.0 or the Industrial Internet of Things. New Zealand needs to embrace these technologies, while at the same time investing in new and smarter products, services and business models.
“The OECD report provides us with some pointers for how to achieve more innovation and productivity. For example, we need to increase non-residential investment, an area we are low at by international comparison, and we need to invest more in innovation activities - again an area we fare poorly compared to the rest of the OECD.
“The report recommends “More fiscal support for business research and development” – we believe that is best achieved through a general R&D tax credit replacing the cumbersome current grant scheme. But the report also points out that our corporate tax rate still is higher than most of our competitors – again a disincentive for more private investment in R&D.
“It will be interesting to see whether the Government takes any note of the sobering figures and sensible recommendations contained in this OECD report. Let us hope we’re not going to squander another opportunity to really put our economy on a stronger footing.” Said Dieter.
| An NZMEA release || June 16, 2017 |||
For the second year running, Ports of Auckland has been selected as a finalist for the Best Seaport in Oceania, the only New Zealand port to make it through to the finals.
Ports of Auckland was voted into the finals of Asia Cargo News' Asian Freight, Logistics and Supply Chain (AFLAS) Awards by industry peers and customers.
In 2016, Auckland's port beat out three major Australian ports to win the category.
"It is fantastic to be chosen as one of the best seaports in the region by our industry peers for another year. Our people have been working hard for our customers, building strong relationships and ensuring we're doing our best to deliver the utmost value for them. This is well-deserved recognition for our team" said Ports of Auckland Chief Executive Tony Gibson.
This year, thousands of Asia Cargo News readers cast votes across award categories such as Best Seaport, Best Container Terminal and Best Airport; the latter counts fellow Kiwis, Auckland Airport, as a finalist. Asia Cargo News reported votes in the thousands – a record number of votes were submitted this year.
Like last year, Ports of Auckland is up against three major Australian ports to retain the award; Port of Brisbane, Port of Melbourne and Sydney Harbour. The awards will be held on June 29 in Singapore.
| A Ports of Auckland release ||| June 16, 2017 |||
As the world of manufacturing becomes more integrated, the role of robotics is changing the shape of the factory floor writes Steven Impey in today's Australian Manufacturers' Monthly Newsletter as he takes a look at the effect it will have on the Australian workforce.
Depending on which literature the industry insider goes by, the impact that robotics will have on the factory floor of the future often splits its audience.
The rise of robots programmed to do a human worker’s job sounds daunting – the very thought of seeing the livelihoods of Australian manufacturing workers potentially cut from under them is itself a concern. Manufacturing jobs have been in a steady decline for several decades as the industry shifts into a different gear.
Continue to original article || June 16, 2017 |||