Agribusiness and Trade: New Zealand launches grass-fed standard

Agribusiness and Trade: New Zealand launches grass-fed standard

  • Official standard will increase demand for our products and enhance the credibility of our quality products.
  • Producers who meet the standard can be assessed and choose to display a licensed FernMark Grass-Fed logo.
  • The standard will be reviewed after one year, and then at least every three years.

New Zealand red meat and dairy producers can now be certified as producing grass-fed meat and dairy under a new standard introduced by the Ministry for Primary Industries (MPI) and launched at Fieldays.

The New Zealand Grass-Fed Administrative Standard provides a formal, Government-recognised definition of what constitutes grass-fed production. Producers who meet the standard can be assessed and choose to display a licensed FernMark Grass-Fed logo, issued by the government agency New Zealand Story.

“Industry has informed the Government that there are customer requests for Government backing of this important attribute in key markets,” says Jenny Cameron, Chief Transformation Officer at the Ministry for Primary Industries.

“By facilitating and coordinating a standard across the pastoral sector, we are able to demonstrate and prove our grass-fed credentials, which will help to maintain or increase demand for our products and enhance the credibility of our quality products.”

Cameron notes that there is significant and growing demand from consumers around the world to know how their food is produced, and to have traceability in the supply chain for products they buy.

“New Zealand can provide that,” she says. “We are proud of the way we farm in New Zealand with high biosecurity, sanitary, animal welfare and sustainable practices. We want to ensure these attributes are recognised and understood by the world.”

New Zealand’s temperate climate, with plentiful rainfall and sunshine, means our dairy and red meat sectors are largely pasture-based.

“This is a key point of difference for New Zealand’s dairy and red meat production, as animals on most other countries’ red meat and dairy farms spend much of the year indoors or eating grain-based diets,” says Cameron. The standard applies separately to red meat and dairy, and is designed to strengthen international market access and validate New Zealand’s long-standing pasture-based farming systems.

For dairy, the standard requires that animals spend at least 340 days per year, for at least eight hours per day, on pasture or forage crops, and have a diet comprised of at least 90% qualifying grass-fed feed.

For red meat, animals must be predominantly fed grass-fed feed types and be permitted to graze outdoors on pasture or forage crops year-round. Feedlots are not allowed, and animals must be removed from pasture or forage crops only for animal management purposes or to safeguard them or the environment from adverse events.

The new standard is voluntary, and there is no requirement for red meat or dairy producers to use it, but MPI says it expects it to become a valuable tool for differentiation.

“We anticipate that China is a market this will be particularly relevant for, but we also know other markets have customers and consumers that make choices based on grass-fed or grain-fed for their own or family consumption, as well as for pets,” says Cameron.

“Only about 10% of the world’s dairy is grazed on pasture, and New Zealand has the greatest time outdoors of any country.”

An independent review commissioned by MPI compared the New Zealand standard to similar international frameworks in Ireland, the United Kingdom, Canada and the United States. It found New Zealand’s requirement for 340 grazing days for dairy is higher than that of other standards.

The development of the standard has involved wide industry consultation. Cameron says dairy and red meat companies have been a part of the development of the voluntary standard, and have been strong proponents for it.

“Since the launch at Fieldays, we have received positive feedback from farmers and industry as a whole,” she says. “As of 27 June, we have had three grass-fed schemes listed as meeting the standard: Fonterra, Spring Sheep, and Westland Milk Products.”

The standard will be reviewed after one year, and then at least every three years, to ensure it remains fit for purpose as environmental and market conditions evolve.

Agribusiness and Trade: Drones transform NZ farms from above

Agribusiness and Trade: Drones transform NZ farms from above

  • Drone use is growing in NZ, with around 60 members now in the Agricultural Drone Association.
  • Drones fill a practical niche between ground-based equipment and helicopters.
  • The association is working with the Civil Aviation Authority to improve the certification process.

This year’s Fieldays included a new addition that drew steady crowds – the Fieldays Drone Zone. Run in partnership with the Agricultural Drone Association, it offered many their first look at how drones are revolutionising farm management practices, including spraying and targeted fertiliser spreading.

“The Drone Zone was incredibly popular – we had nine people on site and we needed all of them,” says Craig Simpson, president of the Agricultural Drone Association and founder of Aerolab, New Zealand’s largest supplier of commercial agricultural drones.

“A lot of people don’t know that drones are an option,” says Simpson. “Seeing one flying, they quickly realise they are big machines that can carry a significant spray pack, and gain a better understanding of how they work.”

The use of drones is reshaping how work gets done on New Zealand farms, with significant growth over the last few years. There are now hundreds of large agricultural drones operating across the country – up from around 20 or 30 three years ago. Simpson says Aerolab’s sales have doubled in the past year alone.

“Ag drones have been in the background for a couple of years,” he says. “But we have recently hit a sweet spot where they are able to carry enough liquid and fly long enough to make them genuinely effective. That’s when the market really took off.”

Drones fill a practical niche between ground-based equipment and helicopters, and their rise is changing how agricultural contractors operate. They can open up access to land that might previously have been too steep or too wet for traditional agricultural machinery, or that require immediate attention and more precision.

“If you’ve got 100 hectares to do, a helicopter is always going to be the best choice,” he says. “And if you’ve got lots of ground, it is dry, not steep, and you have got plenty of room to move vehicles, then a tractor or a truck is going to be better.

New Zealand’s geography makes drones particularly well-suited.

“We farm intensively and make the most out of small holdings,” says Simpson. “We’ve got a lot of arable land but not a huge amount of it is flat. Even with beef and sheep, we run stock on quite steep country. A drone is a real nice fit.”

This is opening up new possibilities. “Some farmers never dealt with gorse on steep blocks because the only option was spraying with a backpack. A helicopter wasn’t economical. Now a drone contractor can do the job at a reasonable rate.”

Urgency has also become a significant factor in the technology’s uptake. Simpson points to Wairarapa, which has had to deal with heavy rain this year.

“There is a point at which you can’t use a vehicle. In the past you might ring a helicopter provider and be told there is a four-week wait. Meanwhile, the fungus gets a foothold.

“A drone provider might be the same price, but they can be there the next day. You can deal with the problem faster and ultimately use less chemicals.”

Safety is another driver of demand.

“Why drive a quad bike or a vehicle across a steep hillside when you can instead fly over it with a drone and keep everyone safe?” says Simpson.

Given the compliance requirements, most agricultural drone users aren’t farmers themselves, but agricultural contractors.

“Since an ag drone is over 25 kilos, you need a certificate with the Civil Aviation Authority (CAA),” says Simpson. “You’re also required to deal with the Environmental Protection Authority for chemicals, WorkSafe for health and safety, as well as local councils for regulations – that’s a lot for one person in a ute with a drone.”

The Agricultural Drone Association has grown to around 60 members – even more since Fieldays – and will play a crucial role in advocating for New Zealand’s agricultural drone operators and enhancing skills and knowledge within the industry.

“The association is aimed at drone users,” says Simpson. “They needed a community, and it means that we can speak to regulators with a collective voice.”

He says the CAA has been a constructive partner. Certification wait times have fallen from 18 months to about eight.

“That is a real improvement – but it is still a barrier. If the industry keeps growing, that bottleneck could get worse.

“We’d like to see the regulator continue working closely with industry so we can maintain momentum. This is a great farming technology, and it’s important we don’t let red tape slow down its potential.”

Simpson says that with their speed, precision, and ability to tackle challenging terrain, agricultural drones are on their way to becoming a familiar sight on New Zealand farms – not just a novelty attraction at Fieldays.

Agribusiness and Trade: Sustainable food innovator seeks inspiration from NZ

Ray Poh from one of Singapore’s leading vertical farms talks with Tim McCready about what he can learn from New Zealand’s agriculture sector.

Artisan Green, founded in 2018 by Ray Poh, is a high-tech, indoor farm that uses stacked growing systems, precision automation and plant science to produce pesticide-free leafy greens in the densely populated city-state.

Poh didn’t start out in agriculture. After years working in the casino industry in Macau, he returned to Singapore looking for a new challenge that was meaningful and sustainable.

That led him to vertical farming, a sector combining climate-controlled growing environments with data and automation. With no prior experience, he began experimenting on a small indoor site with practical knowledge gained through site visits and workshops in Japan and Australia, and volunteering at other farms.

Now, Artisan Green is the country’s top producer of baby spinach as well as other leafy greens and herbs.

In land-scarce Singapore, space is precious. But so is food security.

Singapore imports more than 90% of what it eats, however, as part of its “30 by 30″ goal to produce 30% of its nutritional needs locally by 2030, the Government tenders parcels of land for agriculture. Artisan Green won its plot by demonstrating the commercial viability and technical sophistication of its operation.

From its original 300 square metre facility, the company is preparing to move into a new two-hectare site in Singapore’s designated agriculture zone. The expansion includes a 5500sq m vertical farm, along with significant outdoor greenhouse space and a 4000sq m facility to support post-harvest operations.

This will lift production from one tonne a month to 30 tonnes per month in the initial phase. The second phase will see this increase to 90 tonnes per month.

Poh says the larger scale will allow Artisan Green to bring prices down and make the locally grown produce more competitive.

“Our aim is to price between overseas imports and imported organic produce,” he says. “People support us even though we’re more expensive than imports because we’re local, and our customers – especially younger families – want to avoid exposing their children to pesticides.”

In partnership with Siemens, Artisan Green has digitised its crop recipes: water and nutrient profiles, lighting cycles and temperature settings, allowing consistent yields without relying on a large team of plant scientists.

“We encapsulate the entire growing cycle into our recipes,” he says, “which means that anyone using this platform in the future will not have to be a plant scientist to operate it.”

Poh explains that the intellectual property developed will help make future expansion easier. With the science centralised and scalable, Artisan Green can replicate its model overseas using local workers, without having to bring in expensive technical talent.

He likens it to McDonald’s. “You don’t have chefs in McDonald’s. You just need operators, while all the R&D is done in the central kitchen.”

Poh was in New Zealand last month as part of the Asia New Zealand Foundation’s ASEAN Young Business Leaders Initiative programme.

The delegation of 11 agribusiness entrepreneurs visited businesses around the country and attended Fieldays to learn about New Zealand’s agricultural sector, build local connections, and explore future business opportunities.

Poh says that for a city-based grower like him, seeing how New Zealand brings together science, industry and government in the agribusiness sector has been eye-opening.

“Agriculture is in New Zealand’s blood,” he says. “It’s not just individual farmers doing their own thing, you can see how industry and government work together to advance the sector.”

He points to New Zealand’s plant science research and downstream operations, including packhouses, marketing, and distribution networks, as areas that Singapore still needs to develop.

Too often, he says, small farms in Singapore fail not because they can’t grow food, but because they can’t get it to customers efficiently. It’s one reason why Poh started his own distribution company, which now handles produce from other local farms as well.

There are lessons New Zealand might take from Singapore too, particularly the value of investing in science to develop high-value crops that can command a premium.

“We can’t grow things like baby spinach outdoors in Singapore. It’s too hot. So we grow it indoors. But to make that work, you need margins, and you need to grow something premium,” Poh says.

And you need to know your science.

“A lot of people think AI or automation is going to revolutionise agriculture. But you can’t eat software,” he says.

“So you need to know your basics in plant science first, then automate from there.”

Poh sees both countries as coming at the same problem from different angles. New Zealand has deep-rooted farming knowledge and strong science institutions. Singapore brings innovation in urban food production.

If the future of food is global, then the best ideas will likely grow in both places.

AI levelling the investment field

Artificial intelligence is fast becoming one of the most powerful forces reshaping global finance.

At the annual Asian Financial Forum held earlier this year in Hong Kong, leading industry voices painted a picture of a very near financial future driven by artificial intelligence (AI), where algorithms are rapidly surpassing humans not just in speed, but in the capacity to analyse, synthesise and act on data.

“Generative AI is the single most disruptive technology that we have ever experienced in human history,” said Sinovation Ventures chair and AI expert Dr Kai-Fu Lee.

“We now have AI thinking better and faster than people most of the time for most tasks.”

Lee argued that this shift is not limited to trading desks or research teams, but that every department in a financial firm should be incorporating AI tools.

He pointed out that the number-centric nature of finance makes it especially conducive to fast, scalable deployment of AI.

“You can’t use AI to make a car instantly, but in the financial industry you are not shipping physical goods, you’re dealing with numbers.”

Lee, formerly the head of Google China, isn’t talking about a hypothetical future.

He cited an AI-enhanced market index fund backed by his venture capital (VC) firm, which allows only AI to buy and sell stocks – humans are excluded from the process entirely. He said the fund outperforms the market index by around 30% each year.

High-Flyer Capital Management, a Chinese hedge fund founded in 2016, gained attention for using machine learning to identify mispriced stocks and time trades.

Its funds have returned 151% in total (or around 13% annualised) since 2017 – a standout performance amid a volatile China market. Regulatory changes in 2024 forced the closure of its market-neutral funds, but High-Flyer’s successes continue to influence a new wave of AI-led investment innovation.

Lee described the global AI race as a tale of two superpowers: the US, leading on groundbreaking research through its culture of innovation and strength in fundamental science, and China, excelling in the practical implementation of user-facing applications.

“WeChat is better than WhatsApp. TikTok is better than Instagram,” he noted. “Chinese teams have figured out how to find product–market fit globally.”

China’s fintech firms, in particular, have been early adopters of large language model (LLMs) like DeepSeek, which received attention earlier this year for claiming performance comparable to OpenAI’s GPT-4 at a significantly lower training cost.

Lee’s message to a room full of finance professionals was direct: if your firm is not integrating AI into research, trading and operations today, it is already falling behind.

“AI should be doing most of the writing. AI should be doing most of the reading. I use AI to read all my news … to ask what the top news are today, or what are three stocks I should buy or sell,” he said.

AI removes one of the most common pitfalls for investors: emotion. Tools now allow for real-time sentiment tracking and automated triggers based on logic and data.

But not every role will disappear. Lee sees long-term investing, M&A (mergers and acquisitions) and relationship-based advice remaining human-led. What’s at risk are roles driven by short-term analysis and repeatable decision-making.

“Computer trading replaced floor traders. AI trading will replace a lot of traders today,” he says.

“So now would be a good time for people in the financial industry to upgrade their skills. Otherwise, their job will simply be replaced.”

He suggested financial services firms consider appointing a chief AI officer: someone who understands the technology deeply and can lead transformation across departments, from legal and HR to asset management.

Democratising financial access
AI has already been embedded across the capital markets landscape, with large and small financial institutions using AI not just to assist human analysts, but to automate decision-making at scale. It is powering everything from trade execution and risk modelling to real-time sentiment tracking, portfolio optimisation and fraud detection.

But Lee says this is only just the beginning.

Until recently, building sophisticated AI models required hundreds of millions of dollars in computing power. Now, models are being trained for a fraction of that cost, enabling a much broader range of financial firms to implement AI technologies.

“AI will be made available to everyone – the world will be able to build applications on top,” said Lee.

For everyday investors, this level of access may prove to be one of the most transformative aspects of AI in finance. Previously, obtaining high-quality investment advice and in-depth data analysis meant relying on costly human advisers or institutional-grade tools that were beyond the reach of most individuals.

With AI-powered market analysis assistants emerging to bridge that gap, users will be able to query the markets in plain language, analyse stock trends in real time and receive suggestions tailored to their investment preferences.

Ultimately, it is expected that these assistants will offer tailored guidance to an individual’s specific profile, factoring in things like risk tolerance and income level, but also personal values and unique financial goals.

In some markets, AI regulators have already approved AI platforms for public use. But as these tools begin offering recommendations that resemble traditional financial advice, they raise important regulatory questions around licensing, disclosure, complaint processes and duty-of-care obligations.

Financial regulators around the world are looking at how to address these issues. With the right policy and regulatory frameworks in place, AI could help democratise investing, making smart, data-driven decisions accessible to all, not just the already wealthy.

– Tim McCready was a guest of the Asian Financial Forum

 

Capital Markets: WNT Ventures launches fourth fund, targets deep tech growth (NZ Herald)

Capital Markets: WNT Ventures launches fourth fund, targets deep tech growth (NZ Herald)

WNT Ventures has become one of New Zealand’s most enduring early-stage deep-tech investors.

Ten years since its launch, the firm has begun deploying capital from its fourth fund, a rare milestone in New Zealand’s venture capital (VC) landscape.

“We’re very excited about our fourth fund,” says Maria Jose Alvarez, WNT Ventures’ managing partner. “Only two other funds are at a fourth vintage or more – Movac and Icehouse. That puts us among the few who’ve seen the full life cycle of a fund.”

WNT’s track record backs that longevity. Its first fund delivered a net annual return of around 20%, with all investor capital returned and more upside expected. Fund 2 is tracking even higher at 25%. Launched last month, WNT’s latest fund is targeting $35-$40 million, building on its commitment to backing early-stage deep tech ventures. Its bigger size will allow for larger investments and more meaningful follow-on support.

“Looking back at our first fund, our very first investment was $150k into a company. At the time, it was a big deal – it helped them go from a benchtop lab to something slightly larger,” Alvarez says. “Today, our typical investment is between $1.2 million and $1.5 million; $150k just doesn’t move the needle anymore.”

Alvarez notes that while New Zealand start-ups have traditionally been capital-efficient, WNT is now better positioned to provide meaningful backing at an early stage and to double down on the companies that are performing strongly, with follow-on investment. The increased capital also allows WNT to more consistently support capital-intensive phases, such as pilot plants or prototyping, often critical for commercialising scientific IP.

Experience through cycles
WNT’s decade of activity means it has seen the market at both its peaks and troughs. That context is proving valuable in the current economic climate.

“We’ve lived through economic hardship before,” Alvarez says. “What matters now is helping our founders navigate it – encouraging capital discipline and building businesses that can withstand pressure.”

That discipline has earned WNT lasting credibility with its investors.

“We’ve been consistently returning capital for seven years, regardless of the economy,” says Alvarez. “But now more than ever, founders need to understand what’s expected. If you’re raising capital, you need to hit your milestones – otherwise the whole system comes under pressure.”

Strategic focus and trends
WNT remains broadly generalist in its tech investments, though Alvarez says the fund has clear boundaries.

“We avoid drug development, basic diagnostics and now – given the hype – the benchmark for AI [artificial intelligence] investment is much higher,” she says. “That said, we’ve backed companies with core AI capabilities before, in 2019 and 2021, because they were ahead of the curve.”

Alvarez sees waves of innovation shaping New Zealand’s start-up ecosystem. “A few years ago, everyone seemed to be working on sensors. Now the big focus is decarbonisation: things like biomanufacturing, precision fermentation, synthetic biology and manufacturing.”

These sectors are addressing urgent commercial challenges, including supply chain resilience and cost efficiency, while also delivering major emissions-reduction potential.

But Alvarez cautions against chasing buzzwords. “Last year there was hype around climate. Now, ‘climate tech’ is thrown around left, right and centre. But climate as a label will only get you so far. You still need to solve a real problem.”

WNT’s new fund has already made its first investment, into Captivate Technologies, which develops carbon-capture technology.

“The company already has a lot of commercial and pilot agreements in place, which for early stage deep tech is quite rare. So we were really excited about seeing the clarity in the value proposition.”

She says WNT is particularly interested in companies operating in overlooked but essential sectors.

“I like some of the innovation we’re seeing in ‘boring’ areas like instrumentation and manufacturing. These are consistent sectors with real, persistent pain points, which are always sought after, regardless of economic conditions.”

Although not actively investing in AI, Alvarez says the technology has become a critical internal tool for both founders and investors.

“It’s always in the background, helping assess competitors, test positioning, identify market opportunities. When used well, it sharpens thinking across the board.”

Attracting better talent
While capital is critical, Alvarez says talent remains one of the biggest constraints to growth.

“The main problem isn’t building companies, it’s having the talent to support and scale them. Recruiting experienced technical teams and seasoned management is becoming increasingly difficult.”

This is where she sees an opportunity for the Government to step up. “It’s great to see initiatives like the Active Investor Plus visa – that has been outstanding for us in terms of attracting capital and global connections,” Alvarez says.

“Our third fund launched during Covid, so we didn’t raise offshore at the time. But since then we’ve built strong relationships in the US, Germany, and Hong Kong. These markets have proven to be really valuable for us.”

But Alvarez says more could be done to make New Zealand’s innovation ecosystem sustainable.

“We need a more integrated approach, starting from early education and continuing through university and PhD pathways. At the same time, we also need to support entrepreneurs who might not fit the traditional VC model,” she says.

As WNT enters its second decade, Alvarez says the firm’s focus remains unchanged: finding the right team, working on the right problem, at the right time.

“New Zealand has all the ingredients to build globally competitive deep-tech companies,” she says. “With aligned capital, talent, and support, we can go from clever ideas to real, scalable impact.”

An unexpected journey - 15 years with the Leadership Network

Tim McCready joined the Leadership Network in 2010, but his journey truly took flight two years later—in the unexpected setting of Vladivostok. That visit became the catalyst for a series of adventures: driving across Russia, travelling to Myanmar through the Foundation’s Young Business Leaders Initiative, working across Southeast Asia, and emerging as a respected voice on trade and geopolitics. In March, now 15 years into his involvement with the network, Tim shared his inspirational story at a meeting of the Foundation’s Honorary Advisers, reflecting on how the network has helped shape his life and career. What follows is the speech he delivered at that gathering.

We’ve all had moments in life that felt ordinary at the time, just another day. But looking back, you realise that moment put you on a completely different path.

For me, that moment happened in one of the last places I ever expected. But more on that in a moment.

I’ve been part of the Asia New Zealand Foundation’s Leadership Network since 2010. That involvement has given me incredible experiences: exploring Asia’s business and culture, connecting with thought leaders and future leaders, and serving as Chair of the Leadership Network advisory group.

My career has been varied. I’ve:

  • helped startups raise capital.
  • supported multinationals entering New Zealand.
  • worked with many different government agencies on strategy.
  • spent considerable time in Southeast Asia helping businesses understand regional opportunities.
  • written on trade and geopolitics for the New Zealand Herald, and emceed many of New Zealand’s highest-profile business summits.

At the heart of it, my work sits at the intersection of business, trade, and investment, helping the public and private sectors navigate an increasingly complex world.

I don’t share this to list achievements, but to show how central the Asia New Zealand Foundation has been to all of it.

And, somewhat unexpectedly, it all started not in China, Japan, or Singapore. But somewhere we don’t often think about as even being in Asia – Vladivostok, in the far east of Russia.

People often say New Zealand sits at the edge of the world. In my opinion, that edge is Vladivostok.

Remote and bordered by North Korea and China, just across the sea from Japan, it’s one of the most distant major cities from its own capital, both in geography and influence. The Asian influence there is unmistakable, shaping the city in ways that make it feel a world away from Moscow.

In 2012, the Asia New Zealand Foundation advertised an opportunity for Leadership Network members to attend APEC in Vladivostok, as part of the Voices of the Future delegation.

I think that is the one and only time the Foundation has sent anyone to Russia.

At the time, I was working for NZTE in London, leading its European investment activity. I thought I had a solid understanding of international business and trade. But suddenly I was at one of the most high-profile economic summits in the world, and it shifted everything I thought I knew.

Many of the people here tonight have attended multiple APEC summits, helping shape trade agreements and international policy and dialogue. But for me at the time, it was all new.

Let me take you back to 2012:

John Key was New Zealand’s Prime Minister. Hu Jintao was in his final few months as President of China.

Psy’s Gangnam Style was spreading around the world, introducing a new generation to K-pop

President Barack Obama was in full campaign mode ahead of the Presidential election where he was up against Mitt Romney, and because of that Hillary Clinton (as Secretary of State) delivered the US address at APEC in his place.

One of Prime Minister John Key’s top priorities while he was in Russia was to progress a Free Trade Agreement with Russia, Belarus, and Kazakhstan.

As we now know, that didn’t eventuate. After Russia’s annexation of Crimea, the FTA never progressed.

I caught up with John Key just before his meeting with Putin. We talked about the upcoming meeting, and he admitted he was a little nervous.

And that conversation taught me that trade deals aren’t just about economics.

They’re about geopolitics. They’re about relationships. They’re about the personalities of world leaders. And in many ways, we are seeing that play out now more than ever.

That experience at APEC seemed to set off a chain reaction that shaped the rest of my career.

While at APEC, I found myself in conversation with a group of business leaders and journalists, including one from the New Zealand Herald. At one point during the conversation, she turned to me and said, ‘You should write about that.’

I hadn’t considered it before. But the idea stuck. So, I gave it a go.

And since then, alongside my other work commitments, I’ve been writing on trade, investment, and international affairs, always with a strong focus on Asia.

That led to regular commentary on TV and radio, and the chance to moderate and emcee major business events both in New Zealand and also internationally.

And, eventually, attending APEC in 2012 led me to what I feel is the ultimate full-circle moment.

Fast forward to 2021, and it was New Zealand’s turn to host APEC.

This time, I wasn’t in the audience, I was curating the content for the CEO Summit – including facilitating some of the discussions that took place on stage.

The lineup included Angela Merkel, Amal Clooney, the chair of Tesla Robyn Denholm and other top business and political figures from across APEC economies.

The shift from being an audience member in Vladivostok to helping shape the dialogue on a global stage started with one opportunity when the Asia New Zealand Foundation called for applications to attend APEC.

Of course, many of you will remember that 2021 didn’t turn out to be the APEC New Zealand had hoped for. COVID had other plans. While Auckland was under heavy COVID restrictions, I was on the main stage of Auckland’s Aotea Centre, overseeing the live broadcast to a global audience.

Despite the challenges, it was a huge success and remains one of the most surreal and rewarding moments of my career.

But the Foundation hasn’t just shaped my career. It has changed how I see the world.

One of the Russian delegates at the Voices of the Future Programme at APEC in Russia – Igor – became a good friend. He visited New Zealand, we did a bit of a road trip around the country. I half-joked that we should do something similar in Russia and drive across it. He said absolutely no way – “that would be a terrible idea!”

But twelve months later, I had convinced him to do it, and I was back in Russia. Not for a summit. Not for work. But to drive across the country with Igor and another New Zealand friend of mine, in a Toyota Prius I bought in Japan and had shipped to Vladivostok.

Over five weeks, we drove 15,000km from Vladivostok to St Petersburg. Along the borders of China, Mongolia, and Kazakhstan, meeting people and seeing the country in a way no conference could ever show me.

That’s something that has stuck with me whenever I travel to Asia.

You cannot understand a country, its economy, its culture, its opportunities, just by reading reports or sitting in meeting rooms. You have to be there, on the ground.

Another important thing I wanted to highlight is that none of what I have done would have been possible without the networks I have built.

I didn’t have a strong network starting out. The Foundation gave me my first connections. It put me in rooms I never thought I’d be in and introduced me to amazing people.

A few years after my time at APEC, I travelled to Myanmar with the Foundation as part of the Young Business Leaders Initiative to connect with emerging leaders across Southeast Asia.

At the time, Myanmar was at a turning point, opening up and attempting to transition from military rule to democracy.

It felt like a nation on the brink of something new. The people I met there weren’t just interested in business, they were thinking about what Myanmar’s future could be, what role they could play in shaping it, and how we could all work together to connect Myanmar with the world.

Sadly, things have changed for Myanmar since then.

But here’s the thing: those relationships didn’t disappear.

The friendships I made in Yangon (Myanmar’s largest city) remain. Some of those people are now close friends. Some I’ve since worked with on trade opportunities between New Zealand and Southeast Asia.

Even in uncertainty, relationships endure.

That’s why I’m so grateful to the Foundation and to all those who support it. Because of your work, people like me have been able to build careers, networks, and perspectives that wouldn’t have otherwise existed.

So no, Vladivostok 2012 wasn’t a defining moment for New Zealand-Russia relations. It wasn’t even particularly a defining event for global trade.

But it was a defining moment for me.

It opened doors I didn’t know existed. It changed how I see business. And it led me to opportunities that transformed my life.

That’s the power of the Asia New Zealand Foundation.

And as Asia’s importance to New Zealand continues to grow, the Foundation’s work has never been more vital.

To everyone who contributes to that mission: thank you. You’re not just shaping an organisation. You’re shaping the future of so many people’s lives.

New Zealand Infrastructure Investment Summit 2025 (LinkedIn)

Project Auckland: Smarter ways to fund the city's future (NZ Herald)

Project Auckland: Smarter ways to fund the city’s future (NZ Herald)

Managing Auckland’s finances is a constant balancing act — funding essential services and infrastructure while keeping costs under control.

With a growing population and rising expenses, the challenge is finding smarter ways to fund the city’s future without overburdening ratepayers.

Deputy Mayor Desley Simpson is leading that effort. Chair of the Revenue, Expenditure, and Value Committee, she continues to drive financial sustainability while safeguarding the services residents rely on.

Auckland Council’s total revenue for 2024/25 is $7.9 billion, with about 35% coming from rates.

Simpson is determined to keep that percentage low, maximising revenue streams to reduce the council’s reliance on rates.

“The Future Fund was established at the end of last year with $1.3b from the sale of airport shares.

“Due to a higher price and lower fees, we received approximately $31 million more than anticipated,” she says.

“From the next financial year, the Future Fund will return around $68m to council per year. That is $42m more than the original $26m estimated from holding the airport shares.”

Another key source of revenue is Port of Auckland, expected to deliver $1.1b in profits over the next 10 years.

“In 2023/24, the port delivered $42m back to Council, and by 2027, that figure will rise to $110m. This kind of profitability within the group helps reduce our reliance on rates as a revenue source.”

Over this financial year, Auckland Council is working towards $66m in additional savings, having already achieved $43.2m of that, on top of ongoing savings of $90m per year.

Simpson is clear that financial efficiency isn’t just about cutting costs but about ensuring that every dollar is spent wisely and delivers value for ratepayers.

“We also need to prove to Aucklanders that we can manage the delivery of projects well and deliver value for money. Sadly, that’s not always been the case.”

Simpson says council staff have admitted they may have been “desensitised to costs” in the past.

To address this, the council has launched the Better Value Projects programme, aimed at improving how capital projects are procured and executed.

“We have started by analysing three projects: the Milford Beach steps, Jubilee Bridge, and the Meola Rd upgrade,” explains Simpson.

“In each case, staff acknowledged that the projects could (and should) have been delivered better.

“This is just the beginning. Every meeting will continue to analyse projects across the council and its CCOs until we reach a point where cost-consciousness and efficiency are embedded across all departments.

“Aucklanders are not the Eftpos machine of Auckland Council. We must demonstrate that we are changing the way we do things to operate as efficiently as possible.”

Leadership and clear communication

Simpson’s focus on financial sustainability is about more than just balancing the books; it’s about ensuring Auckland is prepared for the challenges ahead.

With a growing population, increasing congestion, and the ever-present risks of climate change, she believes the city needs to think ahead, make smart investments, and communicate openly.

The Auckland Anniversary floods in 2023 provided a stark reminder of why proactive leadership is essential.

As the city faced one of its most significant crises in recent memory, Simpson was widely recognised for her decisive and practical approach, ensuring Aucklanders had the information they needed when it mattered most.

That experience reinforced her belief that strong leadership isn’t just about making decisions, it’s about bringing people along on the journey.

She says clearly articulating the city’s long-term vision and ensuring people understand the benefits of today’s investments will be key to shaping a thriving, sustainable future.

Major infrastructure projects like the City Rail Link, transport initiatives and resilience planning are all part of ensuring Auckland remains a city that works well not just today, but for decades to come.

“One of the biggest challenges we have as a city is helping people think about the long-term, not just today.”

From congestion charging to new urban developments, she believes it’s crucial to show Aucklanders the bigger picture and that shifting the conversation from short-term inconveniences to future benefits is essential.

“These changes aren’t just about the present.

“They’re about a city that runs more smoothly, is more sustainable, and works better for everyone in the long run,” Simpson says.

“We have a unique opportunity ahead of us,” she says.

“Auckland has a wonderful future as long as we continue to think ahead, plan smart, and take people along on the journey.”

Project Auckland: The issues Auckland faces are huge (NZ Herald)

Councillor Richard Hills, chair of the Policy and Planning Committee, talks to Tim McCready on the past three years and what’s ahead.

Looking back on this term, what stands out as a highlight?

Richard Hills: A huge focus this term, has been our response to the floods and recovery efforts. Securing $2billion for the buyouts, road and parks repairs and the making space for water programme was crucial.

I’m leading the hazards plan change, it’s waiting until we can remove Plan Change 78, but once implemented, it will ensure much greater focus on hazards when we build.

Through the Future Development Strategy, we pushed back against building in floodplains. Some resisted that, but we can’t keep putting people in danger, we also can’t afford buyouts every time a storm hits.

Another major focus has been increasing investment in climate action, the natural environment, and water quality – and convincing the Mayor to grow these programmes rather than cut them.

You’ve managed to work effectively with the Mayor despite his reputation for a difficult leadership style. How?

Hills: I decided from the start to work with him. Auckland voted him in, and it’s important to work with the Mayor while making sure he understands what my community wants. We don’t always agree, but we argue it out, then move on.

If I can prove something benefits Aucklanders or the environment and is cost effective, he’ll support it. But it goes both ways.

For example, I didn’t expect to support selling the airport shares, but that decision helped reduce debt and create extra revenue through the Future Fund. In exchange, the Mayor backed off $50 million in cuts to arts, culture, and environmental programmes. Things I fought to protect.

I also ensured we kept the Climate Targeted Rate and Te Tāruke-ā-Tāwhiri, Auckland’s Climate Plan. Before taking this role, I told the Mayor: If I’m leading this committee, we have to honour our climate pledges. He agreed.

You’ve worked with two different governments during this term. What has that relationship been like?

Hills: The issues we face are huge, and it feels like we’re always in reaction mode, no matter which party is in power.

We have good engagement with Chris Bishop (Housing, Transport, Infrastructure) and Simon Watts (Local Government). But the biggest challenge is always funding tools. We have massive responsibilities, but the funding doesn’t follow.

We lost the regional fuel tax, which made a big difference to transport investment. There’s an expectation that Auckland pays half of major infrastructure projects, yet we don’t have the same revenue-raising abilities as central government. That’s frustrating, no matter who’s in power.

Are we moving fast enough on climate action?

Hills: No. We’re still too slow, both in reducing emissions and preparing for extreme weather.

Business leaders, young people, and mana whenua all tell me: we need to stop the back-and-forth political cycle on climate action.

We’re rolling out busways and rail projects, electric buses, improving cycling and walking options, and investing in clean energy, but compared to Australia, Europe, and Asia, we’re falling behind. Other cities are moving faster, and if we don’t keep up, we’ll pay for it economically too.

What’s one thing you’re excited about for Auckland over the next three years?

Hills: When the City Rail Link (CRL) opens, there will be an explosion of love for public transport. We’re already seeing $6 billion in private investment around CRL stations. Once people experience faster, more convenient travel, they’ll demand more.

This happens everywhere. In Australia, when metro or light rail opens, people suddenly want more. The same will happen here.

That’s why it’s frustrating that light rail was cancelled. The city to Māngere corridor still has no rapid transit, despite being one of Auckland’s fastest-growing areas.

Hong Kong & Investment conversation with Anna Thomas, Summer Times (RNZ)

Listen here

I enjoyed joining Anna Thomas on RNZ’s Summer Times show this morning to chat about my recent visit to Hong Kong for the Asian Financial Forum (AFF). Our discussion covered:

📈Cautious optimism in the financial sector: Despite the uncertainty looming over markets caused by the Trump administration, there’s a prevailing sense of confidence in global markets.

🌏Markets to watch: Southeast Asia and the Middle East stood out at the Forum as hotspots for growth and investment opportunities.

🤖AI’s impact on finance: Artificial intelligence is transforming the financial sector, from predicting trends and outperforming humans, to making financial services more accessible to everyday investors.

🛍️Changing shopping trends: Many Hong Kong locals now head to mainland China for shopping, dining and even dental work – thanks to the convenience of high-speed trains and the allure of lower prices and wider options across the border.

🦢The (non-work) highlight: Of course: food! Including a comparison of budget vs. high-end roast goose. (Spoiler: the budget spot came out on top!)