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Economic Development Minister Simon Bridges and Science and Innovation Minister Paul Goldsmith have today congratulated New Zealand’s leading hi-tech companies for achieving a combined annual global revenue of $10 billion for the first time.

Budget 2017 will invest $372.8 million of new operating funding in the second round of the Government’s Innovative New Zealand programme, Economic Development Minister Simon Bridges and Science and Innovation Minister Paul Goldsmith say.

“Every initiative in the Budget flows from having a strong economic plan that delivers sustainable growth and jobs,” Mr Bridges says. “The Government’s Innovative New Zealand programme invests in the skills and innovation that will keep our economy growing in the years ahead.”

The funding includes:

Economic Development Minister Simon Bridges and Science and Innovation Minister Paul Goldsmith today launched a new edition of an investment guide into New Zealand’s fast growing technology sector.

The Investor Guide to the New Zealand Technology Sector showcases the breadth and variety of technology companies in New Zealand.

A major investment announced by Huawei today will support our efforts to build an innovative, world leading economy, Economic Development Minister Simon Bridges and Science and Innovation Minister Paul Goldsmith say.

Chinese telecommunications equipment manufacturer, Huawei, has announced it will commit up to $400 million over five years to research and development and digital innovation in New Zealand.

Highlights of the investment include:

Economic Development Minister Simon Bridges and Science and Innovation Minister Paul Goldsmith today announced $2 million funding for a wood-processing facility which uses automation and robotics to turn low-value pine trees into high-value wood products.

This is just one of the local initiatives announced at the release of the Tairāwhiti Economic Action Plan in Gisborne.