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NZTE Annual Report 2018 2019 | NZTE G45 AR (2019) ANNUAL REPORT 2018/2019 ISSN 1177-665X nzte.govt.nz Disclaimer: This document only contains general information and is not formal advice. The New Zealand Government and its associated agencies (‘the New Zealand Government’) do not endorse or warrant the accuracy, reliability or fitness for any purpose of any information provided. It is recommended that you seek independent advice on any matter related to the use of the information. In no event will the New Zealand Government be liable for any loss or damage whatsoever arising from the use of the information. While every effort is made to ensure the accuracy of the information contained herein, the New Zealand Government, its officers, employees and agents accept no liability for any errors or omissions or any opinion expressed, and no responsibility is accepted with respect to the standing of any firms, companies or individuals mentioned. NOVEMBER 2019 NZTE’S INTERNATIONAL NETWORK OUR IN-MARKET SUPPORT EUROPE EAST ASIA GREATER CHINA AUSTRALIA-PACIFIC 7 regions OFFICES OFFICES OFFICES OFFICES Hamburg Bangkok Beijing Brisbane 40 languages Istanbul Ho Chi Minh City Chengdu Melbourne 40 international locations London Jakarta Guangzhou Port Moresby 176 private sector advisors Madrid Kuala Lumpur Hong Kong Sydney Milan Manila Shanghai, NZ Central offshore NZTE employees 280 Moscow Seoul Taipei Paris Singapore Tokyo Europe United Kingdom Greater China East Asia North America NEW ZEALAND OFFICES Whangarei Auckland Tauranga Hamilton NORTH AMERICA LATIN AMERICA INDIA, MIDDLE EAST New Plymouth OFFICES OFFICES & AFRICA OFFICES Napier Los Angeles Bogotá Abu Dhabi Palmerston North New York Mexico City Dubai Wellington San Francisco Santiago Mumbai Nelson Vancouver São Paulo New Delhi Christchurch Washington Riyadh Latin America India, Middle East & Africa Australia and the Pacific New Zealand Dunedin CONTENTS SECTION 1: ABOUT NZTE 02 NZTE at a glance 04 Performance highlights 06 Executive summary 08 Our strategy SECTION 2: OPERATIONS 14 Export customers 24 Services 26 International 38 Investment customers 40 Power of collaboration 40 NZ Inc 41 Regional Business Partner Network 42 Working with and for Māori 44 Government to Government 46 New Zealand Story 47 Expo 2020 SECTION 3: INSIDE NZTE 48 Our organisation 56 Good employer requirements 58 Governance and risk management 60 Board members SECTION 4: REPORTING 62 Statement of Responsibility Our purpose is to grow 64 Statement of Performance 72 Financial Statements companies internationally 75 Notes to the Financial Statements — bigger, better, faster — 95 Independent Auditor’s Report 98 Other Statutory Reporting Requirements for the good of New Zealand. 100 Glossary 01 NZTE AT A GLANCE The Government’s economic strategy is to grow a “productive, sustainable To help deliver on this strategy, NZTE’s purpose is to grow companies and inclusive New Zealand”, driven by exports and supported by quality – bigger, better, faster – for the good of New Zealand. The focus of our investment. Within this is a focus on diversification and a shift in economic activity is on the diversified and value-add part of the economy. activity from volume to value. GOVERNANCE Crown Entity Board Investment per annum $207m THE CAUSE EXPORT CUSTOMERS SERVICES OUR PARTNERS Portfolio value $40b People 617 NZ Inc Higher focus customers Private sector providers Callaghan Innovation Government’s plan 704 176 Education New Zealand Export Credit Office To grow a productive, sustainable Lighter touch customers International locations and inclusive New Zealand 5,324 40 Ministry of Business, Innovation and Employment Coalitions 26 Ministry of Foreign Affairs New Zealand locations 10 and Trade Māori customers Ministry for the Environment 173 People located offshore Ministry for Primary Industries 46% New Zealand Venture Investment Fund INVESTMENT CUSTOMERS Service modules Regional Economic 16 Development agencies Investors Tourism New Zealand 2,309 Te Puni Kōkiri Our purpose Value of pipeline $ To grow companies internationally 7.2b Industry bodies – bigger, better, faster – for the Iwi Greenfield deals in pipeline good of New Zealand 122 Non-government organisations Growth stage companies deals 110 BusinessNZ Aotearoa Circle Māori deals 27 Champions for Change OUR CULTURE Working together as One Global Team: Ambition Drives Us: Our ambition Adventure Teaches Us: Honesty Frees Us: We explore Trust Binds Us: Our people Manaaki Is Us: We celebrate the for our customers is high, and we Experimentation is more powerful challenges with an open mind. may be worlds apart, but it’s mana (strength and dignity) of always rise to the occasion. We help than perfection as only through Only when we ask questions and trust that holds us together. each other as being equal to or meet their business expectations by learning from our missteps can we truly listen can we discover the Growing a nation is only possible greater than our own. We strive expecting greatness of ourselves. truly succeed. That’s why ‘giving right way forward. when we keep promises and to enhance mana in everything it a go’ is the best way to learn. honour commitments. we do through our hospitality, generosity and mutual respect. 03 PERFORMANCE HIGHLIGHTS EXPORT CUSTOMERS With NZTE’s help, our Export $ customers achieved 2.4b 902 EXPORT DEALS INTERNATIONAL GROWTH OUTCOMES Our Focus700 customers 54% +62 rate us highly SAY THAT TO A GREAT OR VERY NET PROMOTER SCORE GREAT EXTENT, NZTE HAS PUT THEM IN A STRONGER POSITION TO GROW INTERNATIONALLY INVESTMENT CUSTOMERS Investment impact we achieved for $645m 75 New Zealand INVESTMENT DEALS INVESTMENT DEALS Quality of investment $2.5b $1 to $3.8 INVESTMENT BENEFIT RATIO OF DEALS TO ECONOMIC BENEFIT 04 NZTE Annual Report 2018/19 EXECUTIVE SUMMARY WHAKARĀPOPOTOTANGA MATUA As a trading nation dependent on its relationships with the rest of the world, I te mea he whenua tauhokohoko a Aotearoa he mea nui ōna hononga ki te ao New Zealand needs an export sector that is committed to building connections katoa, me whai rāngai hoko ki tāwāhi a Aotearoa e kaingākau ana ki te hanga, and capability. ki te whakapakari hoki i ngā hononga, i ngā pūmanawa hoki. NZTE is the government’s international business • supporting investment into the regions, including Ko Te Taurapa Tūhono te ūmanga whakawhanake • Te tautoko i te haumi i ngā rohe, tae atu ki ā mātou development agency. We are a key partner in our work with the Provincial Growth Fund and the pakihi ā-ao o te kāwanatanga. Ka noho hei hoa tautoko mahi ki te Provincial Growth Fund me ngā ūmanga supporting our exporters to succeed and helping match regional economic development agencies; mātou ki te taha o te hunga e hoko ana ki tāwāhi kia eke whakawhanaketanga ōhanga ā-rohe; investment opportunities with capital and international • supporting Māori economic development; and panuku ai rātou, kei te awhina hoki mātou i a rātou ki te • e tautoko ana i te whakawhanaketanga ōhanga connections, for the good of New Zealand. • working with, and in support of, NZ Inc, to deliver honohono ki ngā pūtea, oti rā ki ngā hononga ā-ao, hei Māori; me te painga mō Aotearoa. NZTE has a dual focus: growing export companies a cohesive approach to investment attraction. • mahi i te taha o, e tautoko ana hoki i, a NZ Inc, ki te out of New Zealand and attracting investment into We assist companies in need of capital investment, E rua ngā aronga a Te Taurapa Tūhono: he whakatipu i whakatakoto i tētahi huarahi whakahonohono ki te New Zealand. NZTE’s approach is aligned with the help them prepare their business and then match ngā pakihi hoko ki tāwāhi kia puta ki waho o Aotearoa, rapu kaiwhakangao. Government’s overall agenda, to build a productive, he whakamanea mai hoki i te pūtea tautoko ki Aotearoa. these companies with investors (from both within Ka tautoko mātou i ngā pakihi e whai ana i te pūtea sustainable and inclusive economy. E hāngai ana te huarahi o Te Taurapa Tūhono ki te New Zealand and overseas). tautoko, ka āwhina i a rātou ki te whakarite i tā rātou aronga matua o te Kāwanatanga, arā, kia hanga i te With this strategy we have helped our investment pakihi, kātahi ka kimi kaiwhakangao mā aua pakihi (mai ōhanga whai hua, pūmau hoki, mā te katoa. For export customers… customers achieve: i roto o Aotearoa, i tāwāhi hoki). NZTE partners with export companies on their Mā tēnei rautaki kua āwhina mātou i ō mātou kiritaki ki growth journey. We work intensively with 704 • 75 investment deals, with a total investment Mō ngā kiritaki hoko ki tāwāhi… of $645 million; te whiwhi i: export customers, with a lighter touch for over Ka mahi tahi a Te Taurapa Tūhono ki te taha o ngā 5,300. In particular we focus on those companies • these deals will generate $2.5 billion of economic umanga hoko ki tāwāhi i a rātou e whakatipu haere nei. • ngā hokohoko 75, e $645 miriona te nui katoa o which make up the value-add, diversified part of the benefit to New Zealand (above the target of Ka ngana kaha mātou ki te taha o ngā kiritaki hoko ki te haumi; export economy. $2.0 billion); tāwāhi, 704 ngā umanga, ā, ka paku awhina anō mātou • mā ēnei hokohoko ko te hua ā-ōhanga ka puta ko te Over the past year we have helped our export • each investment dollar generates $3.80 i te āhua 5,300 ngā umanga. $2.5 piriona ki Aotearoa ( neke atu i te whāinga o te customers achieve: in benefit to New Zealand (up from $2.80 Ina koa, ka arotahi atu mātou ki ngā umanga kei te $2.0 piriona); • $2.4 billion in new export deals (against a target last year). wāhanga whakaputa kē, e whai ana ki te whakapakari i • mā ia kotahi tāra o te haumi ko te hua ka puta ki of $1.5 billion) These results are the highest ever recorded te taha ōhanga hoko ki tāwāhi.
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