Ministry of Economic Development
People
Regional Development unit based in Wellington
Government Urban and Economic Development Office (GUEDO) in Auckland.
Roles
The Ministry of Economic Development assists the Government to develop and implement policies and services that promote innovation and growth. This includes leading a whole-of-government approach to the Government's economic transformation agenda. The Ministry also has specific responsibilities relating to energy, ICT, regional development, tourism, industry policy, and an effective regulatory environment for businesses and consumers.
It provides advice on the Government's sustainable economic, regional and industry development goals and plays a key role in advancing and supporting improved productivity, growth and overall performance for firms, sectors and industries. This includes developing and implementing policies and services that:
- promote innovation and growth;
- encourage and support globally competitive markets;
- support sustainable business e.g. the digital strategy; and
- improve business assistance programmes.
In doing so the Ministry works closely with New Zealand Trade and Enterprise [link to external website] and Tourism New Zealand.
The Regional Development Unit provides advice on regional economic development policy and the role of regionally based initiatives in achieving sustainable economic growth and transformation.
The unit also co-ordinates and manages policy issues related to regional economic development across the public sector and often provides second opinion advice on issues that may affect regional development.
The Regional Development Unit is available to provide guidance to regions about strategy development, particularly in the early stages of strategy planning. A framework and guidelines for strategy development is available on the MED website Strategies for Regional Growth. Regions are encouraged to engage with MED at an early stage of strategy planning.
The Ministry also oversees the government-wide Digital Strategy which aims to maximise the opportunities available from ICT, providing advice on information technology in planning and best-practice methods in implementation. Currently under review, a draft "Strategy 2.0" is expected in March/April 2008, which will outline the future direction of ICT in New Zealand, including support for regional development.
Funding
Since July 2007 the Ministry has also administered two funds associated with the regional economic development policy which was refreshed in 2006.
The Enterprising Partnerships Fund is a contestable fund focusing on substantial regional projects that are commercially driven, generate substantial economic benefits for the region and align with national economic transformation goals. There will be up to two funding rounds per year and funding decisions are made by Cabinet. In 2007/08 $9.2m is available rising to $10.5m in 2008/09.
The Enterprising Auckland Fund provides $1m per year for three years to the Auckland region. The fund is designed to reinforce the linkages between Auckland's economic transformation and regional economic development and recognises the key role of Auckland in the government's economic transformation agenda.
Further information about the government's regional economic development policy can be found at: Regional Development.
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