Special report
Campaign Against Foreign Control of Aotearoa (CAFCA) has released figures on recent foreign investment into New Zealand following government’s recent Investment Summit where it courted wealthy overseas interests.
“Who Owns Aotearoa? CAFCA’s Key Facts A Reality Check To Accompany Luxon’s “Everything Must Go!” Sale AKA Investment Summit,” headlined CAFCA’s release of figures.
Among the statistics, it was revealed foreign direct investment (ownership of companies in New Zealand increased from $15.7 billion in March 1989 to $171 billion in March 2024 – nearly 11 times.
In 2024 the Overseas Investment Office (OIO) approved the sale of of 149,185 hectares of land or interests in land – such as leasing or forestry rights – to foreigners.
This is a substantial increase on 2023, when the sale of 49,000 hectares was approved. However it’s near the average for the decade 2015-2024 of 141,564 hectares.
“Statistics of sales of land to overseas interests are poorly recorded and incomplete,” said CAFCA. “Our best estimate is that in 2011 at least 8.7% of New Zealand farmland including plantation forestry or 1.3 million hectares, was foreign owned or controlled.
Murray Horton of CAFCA said “the statistics tell their own story about the relentless takeover of NZ businesses and land by transnational corporations and other foreign buyers. This Government seeks to accelerate the process via things like the Investment Summit.”
Meanwhile Prime Minister Christopher Luxon said following the recent Investment Summit, government wanted more foreign investment.
“They’ve come from all over the world (and manage $6 trillion between them) to hear about the opportunities New Zealand has, and I want them to see the same potential in our country that I see,” he said.
Footnote: For more information on CAFCA, and joining/subscribing google CAFCA.
