Economy Of Northern Australia Expected To Grow By 20% Over Next 5 Years

Economy Of Northern Australia Expected To Grow By 20% Over Next 5 Years

Northern Territory Chief Minister Adam Giles

Investing in Northern Australia

Victor P Taffa

The Territory Government is showcasing development opportunities in Northern Australia with an updated investment guide just released in four languages.

“I’d encourage any local, interstate or international company looking for its next big investment to read the latest Directory of Investment Opportunities on the Invest NT (Northern Territory) website.” Chief Minister Adam Giles said.

The directory has just been updated and includes a current list of investment in a range of sectors from agriculture, energy, mining and infrastructure to property development, manufacturing, tourism and the service industry.

“We want to make it easier for people to do business in the Territory and a directory like this allows investors to easily identify what opportunities are out there and who they can contact for more information.” Mr. Giles said.

“According to the Deloitte Access Economic Business Outlook, the Territory’s economy is expected to expand by around 20 % over the next five years.”

“Over the same period, the NT workforce is expected to experience strong employment growth, creating new opportunities for existing businesses and people entering the workforce.”

“The Territory is entering a golden era as the centre of global economic activity continues to shift to our region.  Now is the time for investors to get on board.”

A range of events are planned in 2015 to showcase these opportunities internationally. The directory is available in English, Japanese, Chinese and Bahasa-Indonesian.

“This is also an interactive resource. If you are looking to attract private capital to expand your business, you can also list also your opportunity on this website.” Mr. Giles said.

This investment guide builds on the Government’s Asian engagement program which is being conducted in partnership with the Territory business community.

“A 21 person, Chamber of Commerce-led business delegation has just returned from Dili where they held productive talks with their Timorese counterparts.” Mr. Giles said.

“The visit was hugely successful with the delegation engaging in various one-on-one and group meetings regarding opportunities for increasing trade and investment relations with Timor-Leste.”

“Useful discussions were also held around the seasonal workers program which worked well in the NT this year.” Mr. Giles said.

Northern Territory Statehood

Although the economic outlook of Northern Australia looks bright, while the Federal Government controls the affairs of The Northern Territory, development will be held back.

As an Independently constituted State Government, the State of Northern Australia will be in a position to retain all royalties from the land. Currently Royalties from the land goes to Canberra and the Federal Government hands back money to The Northern Territory in the same manner as it would to any Government Department.

This is a most unsatisfactory situation which is holding back real growth in The Northern Territory. The Northern Territory as a newly constituted State would be called the State of Northern Australia in keeping with the States of South Australia and Western Australia.