Paul Newfield: Morrison CEO on the Government's Infrastructure Investment Summit

A lot's riding on the Government as it opens the country up to more offshore investment. 

Representatives of more than 100 foreign entities are in Auckland to eye up potential opportunities at the Infrastructure Investment Summit.  

The Government's hoping for more project funding and public-private partnerships.  

Chief Executive with infrastructure investor Morrison, Paul Newfield told Mike Hosking New Zealand needs to be painted as a great place to invest.  

He says the Government needs to present a multi-decade pipeline, a vision for what infrastructure could be, and a commitment to maintain work over successive governments.  

Meanwhile, Australian investor Plenary's already confirmed to BusinessDesk it intends to bid on the first stage of the multibillion-dollar Northland Expressway. 

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Episode Transcript

Speaker 1 (00:00):
And so a lot riding on the next couple of

(00:01):
days for the country and the government. They're much hyped
investment summit, designed to get some very heavy hitters into
the country and in the room to tell them. One,
we're open and wanting you money. In two, here's what
we have for you to invest in. Morrison and Co
are infrastructure investors. They've already delivered schools and prisons, university
accommodation here through PPPs Chief executive Paul Newfield is with us.

Speaker 2 (00:19):
Paul Morning puting Mark Dank very well.

Speaker 1 (00:22):
Indeed, what's your expectation, what do you want to see
in the next forty eight hours.

Speaker 2 (00:27):
I'll see what would be great and I think by
the way they'll deliver this. First of all, is our
government telling the world New Zealand is just a great
place to invest right now to safe Haven. We've a
really stable we've got good institutions, rule of law that's
more unusual than it should be in the world today. Secondly,
would like to see some investable opportunities, things that people
can actually get their teeth into in the next twelve

(00:49):
to twenty four months. And then what we really want
them to say there is a multi decay pipeline. Here's
our vision for what infrastructure in New Zealand could be.
And importantly, even if there's changes of government, we're committed
to doing this over multiple decades because that's what we'll
get people here.

Speaker 1 (01:02):
The tangibles, you know, are prison a road, does that
matter or not? Or a project's projects.

Speaker 2 (01:10):
In some respects projects of projects in terms of getting
people here, getting builders here, getting investors here. As long
as they are shaped well, I think that will be
shaped well. I think obviously for New Zealand it matters.
Hopefully it's not just all words. We can like to
see some twenty per century infrastructure that gets to New
Zealand catching up to being the country it could be.

Speaker 1 (01:30):
Okay, we am two things. Is the Prime Minister right?
The world is washed with.

Speaker 2 (01:34):
Cash, absolutely, but it's also a wash of opportunities, right,
So New Zealand needs to compete. When you think right
back in the aces, New Zealand was the pioneers. Literally
we're the first country in the world to start inviting
the private sector into infrastructure and we then kind of
went quiet for a long time and will caught up
and it was great for us as Morrison. That mean
a key company could go capability and become a world beater,

(01:57):
but actually you'd love to come back and do this
back at home right now, right.

Speaker 1 (02:00):
So that was my second question. A lot of the
world I'm reading is doing this. Everyone's into getting cash
into projects. So how much competition do we face and
are we still hot ish?

Speaker 2 (02:09):
There's enormous competition, and like at our investment committee every
week we're probably looking at five different opportunities from around
the world. Obviously we love doing things in New Zealand,
so there is competition. But for us, as key we is,
we'd like to be doing more at home.

Speaker 1 (02:23):
Plenary Australian company, I've already said this morning they're in
for five. They'll bid for the five that are already
out there. Is that the sort of competition we want
to see by the end of this forty eight hours
for you, average every day punter, do we want to
see a bunch of companies going We're in and here's
what we're in for exactly?

Speaker 2 (02:38):
You want to see plenty of competition. I think the
other thing you really want to see is the right
kind of money showing up. So you want people who
are long term patient actually want to invest in growing country.
You don't want just kind of quick flip money. And
so I think that's why it's great we've got some
of these really big global pension funds and sovereign funds here.
The other thing would be really good for New Zealand
as a key we Saber really wake up to this opportunity, right,

(03:00):
not just internationals. In Australia there's a four trillion dollar
superannuation scheme and about fifteen percent of that to six
hundred billion goes into infrastructure. So that's not for instance
stuff work great infrastructure. You'd love to see Keywi Saver
as a get start putting more money into New Zealand
and prastructure and global infrastructure.

Speaker 1 (03:16):
Good stuff, and appreciate the insight Paul Newfield, who is
the Morrison and Code Chief Executive in this part of
the world. For more from The Mic Asking Breakfast, listen
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