September 05, 2016
Foreign capital key to future Maori wealth
Maori Development Minister Te Ururoa Flavell is keen for more Maori businesses to court Asian investors.
Mr Flavell wants to refresh his Maori economic plan for another five years, starting with a national hui next year.
He says Maori asset managers may need advice on how to do business with Asia, building on the sort of trade missions he has been hosting to China, Korea and Japan.
He says it’s a way to get around a historic lack of capital.
"The only way we are going to get capital is if in New Zealand (banks) invest, and that has generally not been the case in the past, or we get it from overseas and go into joint ventures. Foreign investment seem to be the way to go and we must not close our eyes and say because of the stigma associated in the past with dealing with some, we are going to be overtaken. That is not the case and there are positive working relationships for our people working with foreign investors up and down the country," Mr Flavell says.
He says while Maori are able to make a cultural connection with Asian investors, more is needed than a song and a hongi to sustain a long term relationship.
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