The 21st century ICT race is on, says Labour

New Zealand businesses need to maximise their share of the global opportunity made available by the emergence of new technologies.

That's the word of David Parker, Labour's ICT spokesperson, who spoke at the Telecommunications and Broadband Summit this week.

Parker says the race for new ICT developments and innovation is heating up, and New Zealand businesses will need access to capital to compete internationally.

"New Zealand must maximise our share of new niche technologies and innovations before someone else seizes the opportunity," Parker explains.

"Software opportunities are being rapidly exploited around the world," he says.

"The sensor technology, positioning systems and robotics needed to automate many other spheres of activity already exist," Parker says.

"To succeed as a country, and maximise our share of these global opportunities, we must better allocate our precious investment capital, instead of encouraging speculation in property," he explains.

"The opportunities opened up by the ICT revolution are jewels which our competitors overseas are chasing too," Parker says.

"The Government's refusal to fix this problem is costing New Zealand billions and billions of dollars in forgone wealth", he adds.