Foreign Direct Investment in New Plymouth, New Zealand

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New Plymouth is one of the biggest cities in the Taranaki region of the North Island. The coastal city was named after a place called Plymouth in England from where the first settlers came. It was declared a city in the year 1949.

The population of New Plymouth City is 45,000 and it has a warm, temperate climate. The city and the surrounding district area of New Plymouth are known as a center for events. Several festivals (Festival of Light, Garden Festival), concerts and sports activities are held there. The city of New Plymouth was awarded the top city award in 2008 by a reputed magazine. It was judged the best place to live and work in New Zealand. The city is well connected to Australia and the rest of New Zealand by rail, road and air. It offers international living standards that attract a highly skilled workforce from all over New Zealand.

The city has always nurtured ideas and innovation in the field of technology and business. It also enjoys high l evels of employment. New Plymouth is the main financial center in the Taranaki region because TSB bank (Previously known as The Taranaki Savings bank) is situated here. The main economic activities of the city include petrochemical, oil, natural gas exploration and production, and dairy farming. Tourism is also big business in the New Plymouth district. Local and international visitors enjoy snow boarding, skiing, surfing and many more activities.

The New Plymouth district council looks after the business and investment opportunities in New Plymouth and surrounding area. The goal of the New Plymouth district council is to promote the development of the economy and tourism. The council promotes both foreign and domestic investment, and employment and business opportunities in the district area. Innovative enterprises are recognized and given assistance to help them grow and flourish. The basic aim is to promote sustainable business growth. The entire New Plymouth region is being developed to attract visitors from NZ and the rest of the world. The city aims to become an international visitor market in the near future.

The regional economy of Taranaki receives about $ 500,000 in grants every year and at least one high impact project is undertaken each year. The city aims to achieve a sustainable and innovative economy along with a prosperous social environment. The diversification of business, industry and agriculture is encouraged and highly valued.

It has been forecasted that the city of New Plymouth will undergo tremendous development in the next 10 years. This development will create an ample number of employment and business opportunities in the near future. The high level of economic growth may cause a shortage of skilled workforce in the domestic market. Thus, the local development agencies are dedicated to developing a skills strategy to ensure that all businesses in New Plymouth have a skilled workforce for growth oppor tunities in the future. New Plymouth is an attractive place to live, do business and visit. Investing in this city is a wise decision because its key industries of dairy and energy are strong sectors globally.

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