Business Update – 14 April 2022
NZ Reopened Borders to Vaccinated Australians
Prime Minister Jacinda Ardern has reopened the borders for quarantine-free travel, nine months after she shut down the short-lived travel bubble with Australia.
Travellers from Australia and returning Kiwis must be fully vaccinated and must test negative for COVID-19 prior to departure, upon arrival, and on day six.
Three Sectors Shining in the NZ Economy
As the economy recovers from the impacts of the pandemic, certain sectors are outpacing others in terms of business performance. These include Financial Technology, Agriculture, and Services. Find out how these industries are pulling up the strings of the country’s economy amid global market uncertainty.
PM Ardern to Lead Trade Mission to Singapore
Prime Minister Jacinda Ardern will visit Singapore as part of a trade mission on April 18. The delegates are expected to use the trip to sign partnerships and memorandums of understanding that strengthen bilateral collaboration and innovation.
Business Confidence Worsens
Business confidence and demand worsened in the first quarter of 2022 as the COVID-19 pandemic continues to impact the economy, according to the New Zealand Institute of Economic Research’s (NZIER) quarterly survey of business opinion.
A net 40% of firms surveyed expected general business conditions to deteriorate compared with 28% pessimism in the previous quarter. The manufacturing sector is the least pessimistic, but still faces challenges as the pandemic impacts deliveries.
Fast Tracking Digital Farms
The Ministry for Primary Industries has set aside a budget from the Sustainable Food and Fibre Futures fund (SFF Futures) for research into digital farms.
As per Agriculture Minister Damien O’Connor, Aotearoa’s primary industry agency is supporting its digital Farm Environment Plans, which are a pivotal tool to identify and take action on environmental risks on-farm. SFF Futures is contributing $493,500 to the NZ$ 823,500 research project that’s led by a non-profit trust.
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