Page 679 - Week 03 - Tuesday, 17 March 2015
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video
All of these opportunities require investment to come to fruition and that is why one of the key pillars of our business development strategy was the formation of an enhanced and proactive investment facilitation function. Again, we have delivered. In December 2013 I launched Invest Canberra. It has already facilitated more than 100 investment leads and is currently case-managing around 20 investors that are progressing investment projects at various stages of development. Invest Canberra leads the ACT government international promotion initiatives to develop international networks and partnerships and works with stakeholders to create pathways to increase international investment into the ACT.
Invest Canberra’s focus is on supporting investment and growth in the following sectors where Canberra has notable strengths, innovation and capability: defence and security investment; digital economy and e-government; health and sports sciences; innovation and higher education; space, satellite and spatial sciences; and tourism infrastructure. Invest Canberra also focuses on priority investment opportunities, including capital metro, city to the lake and our renewable energy investment projects. It also directly promotes Canberra to target investors. For example, Invest Canberra targeted tourism infrastructure and construction opportunities to international investors during Australia Week in China in April last year.
Our investment promotion activities have complemented our trade development activities. Recent research from the World Bank indicates that firms engaged in international trade are almost four times as large, twice as productive and pay six times more wages and create more jobs than non-trading, purely domestic firms. And that is why, over the last 12 months, we have organised multiple delegations to key markets, including China, Singapore and the USA. The trade delegation program is developed in close consultation with industry through our continuing connection with organisations, including the Canberra Business Chamber and other industry organisations, as well as with bilateral business councils that connect Canberra to specific target markets.
The ACT government continues to work closely with Austrade to develop trade delegation programs and to deliver in-market business matching services for Canberra companies. We supported the largest ever ACT trade delegation. That was to Singapore in June last year. In total 35 delegates, representing 28 organisations, attended that mission. Companies announcing deals and strong leads as a result of attending the Singaporean trade mission include Intelledox, E-Way, Link Digital, On-the-Go Sports, and SchoolPro.
Of course, we continue to support the development of our visitor economy. The visitor economy currently contributes $1.8 billion to the ACT economy and is one of the territory’s largest private sector employers, supporting 17,000 jobs in the city.
In December 2013 I launched the tourism 2020 strategy for the ACT. The strategy set the goal of growing the value of the visitor economy in the territory to $2.5 billion by 2020. Based on a robust body of consumer demand research, the tourism 2020 strategy provides the foundation to inform activities that will help achieve that goal.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video