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21st century ICT race is on and needs capital

The race for new ICT developments and innovation is heating up and New Zealand businesses will need access to capital to compete internationally, Labour’s ICT spokesperson David Parker said in a speech to the Telecommunications and Broadband Summit yesterday.

“New Zealand must maximise our share of new niche technologies and innovations before someone else seizes the opportunity.

“Software opportunities are being rapidly exploited around the world. The sensor technology, positioning systems and robotics needed to automate many other spheres of activity already exist.

“To succeed as a country, and maximise our share of these global opportunities, we must better allocate our precious investment capital, instead of encouraging speculation in property.

“The opportunities opened up by the ICT revolution are jewels which our competitors overseas are chasing too.

“The Government’s refusal to fix this problem is costing New Zealand billions and billions of dollars in forgone wealth”, says David Parker.