The New Zealand economy is experiencing a softening in the labour market and easing inflation. In response, the Reserve Bank of New Zealand cut the Official Cash Rate (OCR) to 4.75% at its October meeting with further reviews scheduled for November and February. Notwithstanding weak demand, business confidence improved in the September quarter, reflecting reduced pricing pressures on domestic goods and imports.
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Snapshot: Infrastructure opportunities in NZ
Infrastructure is in the spotlight in New Zealand, with the government announcing the launch of the National Infrastructure Agency in December 2024 and the development of a 30-year National Infrastructure Plan (expected 2025).
The National Infrastructure Pipeline identified NZD$147.6 billion of active and planned projects from central government, local government and private infrastructure providers. Transport projects are the largest single sector in the pipeline (56%, including road, rail, ports and airports), followed by water (16%), energy (7%), housing (5%) and health (5%).
149 projects are proposed to undergo streamlined regulatory approvals under the Fast Track Approvals Bill, including projects in housing and land development (58), infrastructure (43) and renewable electricity (22).The pipeline of current and planned projects creates significant opportunities for Victorian companies to participate as contractors and suppliers. To view current and upcoming tender opportunities, visit the Government Electronic Tender Service (GETS).
Case study: Victorian company excelling in the Pacific
Reeves Envico won the Professional Services category in the 2024 Governor of Victoria Export Awards, and also at the Australian Export Awards.
For nearly four decades, Reeves Envico has been a driving force in infrastructure development across the Pacific region. With a commitment to delivering sustainable and resilient solutions, the company has undertaken numerous projects to improve the lives of communities in countries including Kiribati, Solomon Islands, Vanuatu, and more.
Specialising in climate resilient infrastructure, Reeves Envico has played a crucial role in mitigating the impacts of rising sea levels and extreme weather events. Their projects, funded by organisations like the Asian Development Bank, focus on providing safe water supply, wastewater treatment and robust infrastructure that can withstand the challenges posed by climate change. Beyond their technical expertise, Reeves Envico is dedicated to empowering local communities by providing employment opportunities and upskilling programs – contributing to the economic growth and self-sufficiency of the Pacific nations.
Their commitment to excellence, innovation, and social responsibility has solidified their position as a leading infrastructure provider in the region.