WELLINGTON, Aug. 11 (Xinhua) -- New Zealand government's planned investment in the defense industry over the next 15 years represents a huge opportunity for New Zealand companies, the Ministry of Defense said on Friday.
Defense Minister Mark Mitchell told defense industry representatives on Thursday night that the country needs a Defense Force that is equipped and supported to respond to a rapidly changing strategic environment, which requires investment, according to the release.
Over the next 15 years, the government will invest up to 20 billion NZ dollars (14.6 billion U.S. dollars) in new and upgraded military capability, including replacement of all the major platforms and the regeneration of the defense estate, Mitchell said.
"We have many companies in the Defense sector who are themselves investing and innovating in their areas of expertise," Mitchell said, adding that the government's investment in defense promotes growth in the sector, creates jobs and means that the industry will have every chance to build on its achievements.
"While we are not builders of warships or military aircraft, New Zealand companies can support those capabilities with world-class products and systems, and also support them through life," the minister said.
"For every dollar spent on a new capability, four is spent supporting it through life, the bulk of which is spent locally," he said, adding that each year the New Zealand Defense Force spends 600 million NZ dollars (437 million U.S. dollars) on maintenance and repair, training, and other commercial services.
The government is committed to ensuring New Zealand companies are given every opportunity to compete for a share of the investment in Defense, Mitchell said.
