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Ardern Wants Foreigners to Invest in N.Z. Hotels, Not Houses

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Ardern discusses the New Zealand economy, the housing market and foreign direct investment.(Source: Bloomberg)

New Zealand Prime Minister Jacinda Ardern said her country still welcomes overseas investment despite a ban on house sales to foreigners.

“In terms of things like hotels, transport we absolutely need quality foreign direct investment in New Zealand and we are open for business,” Ardern said in an interview with Bloomberg Television in Singapore Thursday. “We derive, and I’d say investors derive, much greater benefit from investing in our productive economy than just our housing market.”