12 August 2017

News Story: New Zealand to increase investment in defense industry

WELLINGTON, Aug. 11 (Xinhua) -- New Zealand government's planned investment in the defense industry over the next 15 years represents a huge opportunity for New Zealand companies, the Ministry of Defense said on Friday.

Defense Minister Mark Mitchell told defense industry representatives on Thursday night that the country needs a Defense Force that is equipped and supported to respond to a rapidly changing strategic environment, which requires investment, according to the release.

Over the next 15 years, the government will invest up to 20 billion NZ dollars (14.6 billion U.S. dollars) in new and upgraded military capability, including replacement of all the major platforms and the regeneration of the defense estate, Mitchell said.

"We have many companies in the Defense sector who are themselves investing and innovating in their areas of expertise," Mitchell said, adding that the government's investment in defense promotes growth in the sector, creates jobs and means that the industry will have every chance to build on its achievements.

Read the full story at Xinhua