Business sector welcomes overhaul of investment rules

The business sector is welcoming moves to overhaul overseas investment rules.

Prime Minister John Key says details of a review of the rules will be announced next week.

It is part of the drive to cut red tape, and make it easier for businesses to get started and grow.

Chief executive of the Auckland Chamber of Commerce Michael Barnett says restrictions around investment in Auckland indicates there is a need for change.

He says if New Zealand is going to attract investment there is certainly a need for a review to make things easy and accessible to international investors.

Michael Barnett says there is a requirement for a regime that is welcoming, not one that is uninviting.

- NEWSTALK ZB