New Zealand draft infrastructure plan outlines need for more hospitals, electricity
WELLINGTON: New Zealand on Wednesday (Jun 25) released a draft 30-year national infrastructure plan, which highlighted a need for the country to invest more in hospitals and electricity production and to prepare to spend more on responding to national disasters.
The plan aims to improve infrastructure preparations and introduce a less politically driven approach to infrastructure investment, which critics say has been impacted by electoral cycles with the stop-start results being costly for large projects.
'We want the National Infrastructure Plan to help build common ground about our areas of need and what is affordable for Kiwis, giving the Government of the day guidance for making decisions about infrastructure,' said Geoff Cooper, chief executive of the New Zealand Infrastructure Commission.
The draft plan said the country needed to establish affordable and sustainable funding, make it easier to build new infrastructure, prioritise maintaining current infrastructure and assess the readiness of projects before they are funded.
While New Zealand was in the top 10 per cent of the OECD in its infrastructure spend as a percentage of gross domestic product, it was not getting the returns it should, it added.
To meet demand, annual capital investment would need to increase from around NZ$20 billion (US$12 billion) today to slightly more than NZ$30 billion by the 2050s, according to the plan.
The New Zealand government has outlined plans to boost the infrastructure build in the country, and earlier this year hosted an infrastructure investment summit to promote foreign investment in the country's infrastructure.
'The Government is determined to improve New Zealand's infrastructure system and to work alongside the industry and other political parties to establish a broad consensus about what needs to change,' said Chris Bishop, Minister for Infrastructure.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
9 hours ago
- CNA
Thai protesters call for resignation of PM Paetongtarn
Scroll up for the next video X Thai protesters call for resignation of PM Paetongtarn
Independent Singapore
10 hours ago
- Independent Singapore
I had a stroke; my entire left side paralysed, but my mum told me, 'Son, you can do anything' — SG man recalls the words that drove him to become a self-made millionaire
SINGAPORE: At 18, Reshveen Rajendran was set to become a military officer — until his body gave up on him. Just two weeks into national service (NS), a brain aneurysm floored him. The entire left side of his body was paralysed. His dream? Dashed. His future? Uncertain. But what pulled him through wasn't therapy, fame, or fortune — it was just a simple line from his mother: 'Son, you can do anything.' Today, that same young man — now a multimillionaire entrepreneur and investor — runs a successful education company and a fund, raking in over S$10 million a year. And it all started with nothing but some savings, an interest in investing, and a painful personal reboot. Rock bottom came before takeoff While most NS recruits were learning how to field strip rifles and march in sync, Reshveen was lying in a hospital bed, unable to move his fingers. 'I had a stroke… an aneurysm in the right side of my brain,' he told the Asian Boss team during their street interview in Singapore. 'I basically lost sensation on the whole left side of my body,' he explained. Six months of medical leave followed. Physical rehab became his daily drill. And his military officer's dreams? Over. 'All my dreams got dashed. I couldn't become an officer ever again. I couldn't go back to the gym. Everything that I wanted to do was gone,' he recalled. But then came mum, delivering what can only be described as the emotional defibrillator that shocked his mindset back to life. 'She said, 'Son, you can do anything.' So I decided to pick up books and learn how to make money. I decided to use my brains instead,' he said. See also Catalysing Growth: SME Interview Series with Validus Capital It was then that his breakdown turned into a breakthrough. From free talks to S$10M revenue Fresh out of national service and with his military officer career buried, Reshveen fell in love with investing. He started small — not just with money, but with impact. 'I attended a programme on investing. I got very passionate about it. I saw very decent results. So I just wanted to share the information with my friends.' And he didn't charge a cent. 'It was literally for free, and people loved it. They started inviting their friends, and before you know it, it became a full-fledged business,' he added. Fast-forward a few years, and what started as casual lessons snowballed into a full-on education empire. Today, his company and fund together generated over $10 million in revenue just last year. That's really a great feat for someone who once had to relearn how to even wiggle his fingers after suffering a paralysing stroke. On saving, spending, and not getting scammed by 'glorious' investing 'Saving is the number one thing you've got to do, even before you start investing,' Reshveen stressed. In a world where 'investing' is the new flex, he's quick to point out the dark side. 'People lose a ton of money if they don't know how to invest.' So his golden rule? 'Make sure your savings can cover at least six months of emergency expenses. Whatever that amount is for you, get that settled first. Anything on top of that, I invest.' 'Doing what you love' vs. 'doing what's boring but rich' Reshveen's story might sound like a dream scenario: make money doing what you love. But he doesn't pretend it's the only way. 'I'm doing what I love and I've made millions from what I love… but I also know many friends who do boring stuff and make millions too,' he said. The lesson? You don't have to love your job to get rich. You just have to be good at it — or better yet, be consistent with it. What if he lost all his millions tomorrow? When asked a question about something that haunts most millionaires — 'What would you do if you lost everything?' — Reshveen didn't flinch, and he even seemed excited by the idea. 'Today, in 2025, we're living in the age of exponential artificial intelligence (AI). The first thing I'd do is learn AI — what I can do with it — and use that to sell information to businesses.' He calls it 'information arbitrage,' and it's where he believes the real money lies today. 'There are a ton of businesses around that have no clue how to create a website, which you can get done in 5 minutes today.' He adds with a grin, 'I would probably make millions of dollars. I'm not joking. It's so crazy.' Millionaire mindset: Discipline over drama Despite the money, Reshveen doesn't preach hustle culture or flex the usual luxury lifestyle. So what's his formula? Save first — at least 20% of your income. Build a 6-month emergency fund. Invest what's left — wisely. Never stop learning. Especially now, with AI reshaping the game. And most importantly: Your tragedy doesn't define you. Your pivot does. Reshveen's story is more than a rags-to-riches tale. It's a master class in resilience, reinvention, and real-world strategy — from someone who learned to walk again before he learned to invest. He didn't just rebuild his life. He reprogrammed it. Watch Reshveen's full story in the Asian Boss street interview below, along with other Singaporean self-made millionaires who built their fortunes from scratch — a master class in turning rejection into redirection and setbacks into success. In another candid street interview with Asian Boss , another young Singaporean millionaire peeled back the hood on what it takes to build a million-dollar business — and spoiler alert: it wasn't a trust fund or market timing wizardry. He revealed a more grounded answer: solving the problems of others and the fact that 'You don't need to be a stock market expert to get rich' — Young Singaporean millionaire reveals how solving problems of others with AI led to his first million
CNA
20 hours ago
- CNA
Singapore, UK to boost trade, share vision of peace and prosperity amid uncertainty
The UK and Singapore are deepening their partnership amid global uncertainties, focusing on boosting trade, tackling ageing populations and stepping up defence cooperation. Recently in Singapore, UK Secretary of State Peter Kyle said shared values and complementary strengths have shaped 60 years of strong ties. In a chat with CNA's Aslam Shah, Mr Kyle spoke about what this enduring relationship means for the future.
