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Outcome 5: A dynamic business environment fostering innovation and international connections

Aotearoa New Zealand needs a business environment that is dynamic, where businesses can respond to new opportunities and resources are allocated to their most productive use.

The Waikato regional story

The Waikato RSLG area is a strategically significant land area between the fastest-growing metropolitan centres in New Zealand and at the heart of the golden triangle, the economic zone encompassing Auckland, Hamilton and Tauranga. This area generates over 50% of New Zealand gross domestic product (GDP) and is home to over 50% of NZ’s population.

Outcome Three: Informed consumers and businesses interacting with confidence

By setting rules and defining rights, MBIE allows business to operate effectively while protecting consumers from harm. MBIE supports consumers, tenants, landlords, workers and businesses by

Open banking

The Government is drafting regulations that will designate the banking sector under the Customer and Product Data Act. This will enable and accelerate ‘open banking’, which is a system that enables banks’ customers to share their banking information with trusted third parties, such as fintechs. It also enables accredited persons to initiate payments on behalf of customers. We expect the regulations to be in force from December 2025.