Our economy needs $200 billion of investment according to the Government, and they want some of that to come from foreign investment.

A new cross-Government approach is being kicked off to attract more foreign investment to New Zealand, with better marketing and understanding of the needs of foreign companies.

Economic Development Minister Steven Joyce is hoping investors will be interested in centres like the Lincoln Hub.

He said it's "one of the best concentrations of agricultural scientists in the Southern hemisphere."

"We have opportunities for research and development from private companies to occur at that site."

However the plan has been dismissed by the opposition as flimsy PR.

Labour's Economic Development spokesperson David Clark said it won't do anything to stop the slump in business confidence, because there's no concrete change there.

"There's nothing wrong with getting some bureaucrats together to throw ideas around."

"Nobody disputes that foreign direct investment, if it's of a high quality, adds to the New Zealand economy. But this is just a committee."

David Clark said foreign investment is a good thing, but only if it's adding value that can't be gained elsewhere.

"If it is simply replacing New Zealand ownership, with an overseas interest, that is something we will vigorously oppose."