Asian tastes shape opportunities
Why take these entrepreneurs to Taranaki?
Well, the region contributes the highest GDP per capita in New Zealand, with four main industries: dairy, engineering, oil and gas, and food processing.
Clearly, the region has to (and is beginning to) prepare for a life after oil and gas, which is why Regional Economic Development Minister Shane Jones announced a
$19.7 million investment for Taranaki through the Provincial Growth Fund in April.
Taranaki also has its own experiences of Asian investment – with one example being Fitzroy Engineering, established in New Plymouth in the 1950s but acquired by Malaysia’s Dialog Group in 2011.
Foreign investment is often a contentious issue, and not always an easy thing for communities to adapt to, but Fitzroy Engineering is one example of it benefiting a region’s economic development.
Managing director Richard Ellis was interviewed for our ‘‘Asian Investment in New Zealand’’ report last year.
He commented then: ‘‘Dialog has not taken any money out of this organisation. We have made money every single year. We have been profitable every single year – every dollar has been reinvested – every single dollar.’’
Anyway, back to the entrepreneurs who have participated in the ASEAN Young Business Leaders Initiative.
Some are already quite experienced in Southeast Asia – such as Nelson’s Chloe and Florence Van Dyke, the founders of drink brands Chia and Awaka, which are sold in Singapore and Malaysia.
Others have only just started launching their products in the region, such as Taranaki-raised Morgan Maw, the founder of oatcake company Bonnie Goods.
Her business has just started exporting to Singapore.
While in Taranaki, we visited three businesses ranging from established exporters to start-ups.
Egmont Honey already has a strong presence in Asia and is an example of the type of company many New Zealand start-ups aspire to be – it has scale, but is also focused on producing a sustainable product.
We also called into Marcel’s, which exports its ready-made frozen pancakes to Asia, and to Juno Gin, part of the Kiwi craft beverages movement.
In organising the programme, we were greatly helped by Taranaki local Nick Carey – the founder and general manager of Green Meadows Beef, a paddock-to-plate, grass-fed Angus beef business.
Carey is an example of an entrepreneur working to lift New Zealand’s game in value-added product through branding Kiwi meat and following it through the supply chain to the consumer.
Asia hasn’t traditionally been a focus in plans to grow the region’s economy, but it is increasingly going to be. A combination of agricultural resource and creative people means there’s much to be optimistic about.
Simon Draper is the executive director of the Asia New Zealand Foundation.