Friday, 07 July 2017 11:38

Exploring the economic opportunities from transport technology

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The Ministry of Transport and BusinessNZ are partnering to commission a study into how New Zealand’s economy can benefit from transport innovation, Transport Minister Simon Bridges says.

“The potential of self-driving cars and their associated economic opportunities are often the focus of research and investment, but there are many other aspects of the transport system which present economic opportunities,” Mr Bridges says.

“I want to see businesses positioned to flourish in New Zealand as intelligent transport systems (ITS) are commercialised.”

The study will be overseen by an advisory group, which will meet for the first time today, chaired by Dr David Prentice, Chief Executive of Opus. The advisory group also includes the Ministry of Business, Innovation and Employment and a range of other players from the public and private sectors. The private sector is developing much of this technology, so it is critical that the Government engages with the private sector.

“The study is expected to be completed by the end of 2017, and will make recommendations for how we can develop and grow ITS market opportunities where we have a competitive advantage, and identify areas to be strengthened” Mr Bridges says.

“There are companies in New Zealand already working in the growing ITS market, as well as companies who could do so. A number of international companies have also expressed interest in developing their ITS technologies in New Zealand.

“We have a reputation for good, effective regulation, which is enforced by practical regulators who are open to finding solutions which support innovation.

“Leveraging off these advantages to support businesses, and attracting international companies to come and develop their technology here, will have significant benefits for transport in New Zealand, and the broader economy,” Mr Bridges says.

| A Beehive release  ||  July 6,  2017   |||