New Zealand is known for its lush, green scenery and abundant dairy produce, but there were broader investment opportunities than tourism and food, the country's economic development minister said.
The country, famous for providing the settings for Peter Jackson's "The Hobbit" and "The Lord of the Rings" film series, is just as good at software services and niche high-tech manufacturing from healthcare products to airport conveyor belts, Steven Joyce told CNBC's "The Rundown" on Wednesday.
Joyce, who was in Vietnam and Singapore to promote his home country's investment opportunities, said New Zealand's tech sector had clocked strong growth to become NZ's third-largest export. Overall, New Zealand exports were worth NZ$4.3 billion ($3 billion) in April, up 4.0 percent on-year.
Like many export-oriented countries long reliant on China's voracious demand for commodities, New Zealand, the world's largest dairy exporter, has looked to diversify
In a February speech Reserve Bank of New Zealand Governor Graeme Wheeler said a marked slowdown in China would have important implications for New Zealand, especially if it was accompanied by a sharp decline in Chinese' household consumption.