Los­ing busi­nesses

The Dominion Post - - Opinion -

While con­grat­u­lat­ing Jeremy Moon on sell­ing Ice­breaker for nearly $300 mil­lion, I am once again trou­bled by a New Zealand en­tre­pre­neur de­vel­op­ing a suc­cess­ful busi­ness, only to sell it to an over­seas buyer.

Quite apart from the profit go­ing over­seas, so of­ten such sales are fol­lowed by dis­ap­pear­ance of the tech­nol­ogy, the know-how and, most im­por­tantly, the jobs, as well as the tax rev­enue.

A good ex­am­ple was PDL in Christchurch, which made plas­tic switches, etc.

Once a New Zealand firm that em­ployed 1200 peo­ple, it was bought out and its man­u­fac­tur­ing has gone over­seas; ev­ery­thing, even its dies and moulds.

New Zealand will al­ways have a very vul­ner­a­ble econ­omy as long as it re­lies on pri­mary, un­pro­cessed pro­duce.

We need these en­tre­pre­neur­ial peo­ple and their busi­nesses to stay in New Zealand and strengthen its econ­omy and pro­vide jobs and GDP. JOHN ROBERT­SON Karori

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