New Zealand’s Fast Forward plan is designed to transform the economy into a more formidable supplier of high value goods and services. Under the plan, the government will allocate NZ$700 million ($570 million) to the pastoral and food industries. The funding will grow interest over the next 10 to 15 years, and will be valued around NZ$1 billion. As per the Fast Forward plan’s guidelines, industries are set to match the government’s funding, which could then grow to NZ$2 billion over a 10 to 15 year period. The money will be targeted towards helping four broad areas: sustainable pastoral systems, research and education capability, food innovation clusters and internationalism. The fund will also be focused on making New Zealand’s pastoral and food industries environmentally and economically sustainable. New Zealand’s food sector currently supplies around 57% of the country’s export earnings from goods.

Source: New Zealand Herald