Exploring the economic opportunities from transport technology

2 MinutesBy NZ Trucking magazineJuly 7, 2017

A partnership between the Ministry of Transport and BusinessNZ has commissioned a study into how New Zealand‘s economy can benefit from transport innovation.

“The potential of self-driving cars and their associated economic opportunities are often the focus of research and investment, but there are many other aspects of the transport system which present economic opportunities,” Transport Minister Simon Bridges says.

“I want to see businesses positioned to flourish in New Zealand as intelligent transport systems (ITS) are commercialised.”

The study will be overseen by an advisory group chaired by Dr David Prentice, chief executive of Opus. The advisory group also includes the Ministry of Business, Innovation and Employment and others from the public and private sectors. The private sector is developing much of this technology, so it is critical that the Government engages with the private sector.

Expected to be completed by the end of 2017, Bridges says the study will make recommendations for how New Zealand can develop and grow ITS market opportunities where we have a competitive advantage, and identify areas to be strengthened.

“There are companies in New Zealand already working in the growing ITS market, as well as companies who could do so. A number of international companies have also expressed interest in developing their ITS technologies in New Zealand.”

Bridges says New Zealand has a reputation for good, effective regulation enforced by practical regulators who are open to finding solutions which support innovation.

“Leveraging off these advantages to support businesses, and attracting international companies to come and develop their technology here, will have significant benefits for transport in New Zealand, and the broader economy,” Bridges says.