Page 1905 - Week 07 - Tuesday, 14 May 2013
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vision, scale and technical sophistication to attract international development partners and there is already growing knowledge of the projects in financial hubs like Singapore.
Capital metro will transform Canberra by increasing the transport capacity of existing corridors, stimulating our economy through private and public investment, diversifying residential centres, promoting new employment and increasing the wellbeing of residents through more efficient transport and exemplary urban development.
City to the lake is no less important to the future of our city. In addition to the extensive leisure activities, it is envisaged that this new precinct will be home for 20,000 Canberrans, provide a state-of-the-art convention and exhibition centre, a 30,000-seat stadium, hotels and multi-use car parks for major events and commuter use.
Talking about these projects in Singapore to an investor community provided an important frame of reference for the government’s thinking around more targeted investment facilitation and activities. We recognise that attracting investment requires government representation and facilitation. Canberra has been a natural attractor of investment for much of its history, courtesy of the pulling power of Australian government agencies and the sheer scale of its procurement spending. But as Canberra has grown, and as we see our private sector now taking a leading role in the economic future of our city, we understand the need to proactively shape and project our investment offering to global capital markets and investors.
In growth, diversification and jobs—a business development strategy for the ACT, I indicated that the government would establish a more concerted program approach to investment facilitation and in the 2012-13 territory budget new funding was provided for this initiative. The brief stopover in Singapore was a great opportunity to introduce this new program approach to a relevant audience.
I am pleased to report to the Legislative Assembly that “invest in Canberra” is the external branding for this new program, which will reside in the Economic Development Directorate. While the government has always been diligent in its engagement with potential investors, what “invest in Canberra” will do is ensure that we have a single and easily recognised point of investment facilitation. Importantly, the program service will bring together capabilities across key government agencies to respond quickly to investment leads generated by expanded marketing and outreach activities. It boosts our capability to respond and engage with investment partners, including Austrade, and to generate and case manage foreign investment leads. “Invest in Canberra” is also an important externally focused statement that demonstrates our commitment to working with investors.
The key point of difference between past and future approaches is focus, Madam Speaker. To date we have been reasonably good at talking about the general opportunity in Canberra and its broad investment credentials, but less prepared to project information and engagement strategies around specific opportunities. With this thinking in mind, I used my time in Singapore to conduct a round table on tourism
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