The 2015 Budget is part of the Commonwealth Government’s plan to build a strong, safe and prosperous future for all Australians.
The Government will provide $53.2 million to attract vital job-creating investment from priority markets, including Asia, North America and Western Europe.
The 2015 Budget will increase Australia’s profile as an international investment destination and promote opportunities in five priority sectors: agribusiness and food, resources and energy, major infrastructure, tourism infrastructure and advanced services, manufacturing and technology.
The additional resources will enable Austrade’s investment teams to work more closely with Australian businesses and significant overseas investors, including companies, sovereign wealth funds and major pension funds.
The Government will expand important promotional activities, including successful Australia Week events in key markets such as China and India, as well as the Match Australia sporting event programme.
The 2015 Budget delivers:
- $30 million to increase promotion of foreign direct investment in priority areas, including increased staff and resources for Austrade’s global investment teams.
- $18 million to expand Austrade’s Australia Week events in China, India, US (to replace the existing trade, investment and tourism aspects of G’day USA) and ASEAN, promoting Australian capability and investment opportunities.
- $5.2 million to expand Austrade’s Match Australia Programme, showcasing Australia to international business people attending major sporting events such as the 2016 Rio Olympics.
“Australia, with its relatively small population, open economy and thin capital markets has always relied on foreign investment and that remains the case today. Attracting new investment is critical to developing new projects and infrastructure and helping our businesses grow and deliver more jobs,” Mr Robb said.
“The world is awash with mobile capital, but the competition to attract it is fierce, particularly from developing economies. That is why we need the right resources in the right places to ensure we can attract more than our fair share of new investment and important reinvestment in Australia.”
“This Government has reinvigorated Australia’s trade and investment agenda and as the first Minister for Investment I have now participated in more than 60 productive senior investment roundtables in 23 countries,” Mr Robb said.
The Government has also appointed five senior investment specialists from the private sector to focus on our five priority investment areas and to help facilitate investment opportunities.
“The 2015 Budget is part of the Government’s commitment to trade and investment to stimulate economic growth and reaffirms our message to the world that Australia is ‘open for business’,” Mr Robb said.
- Trade Minister's Office: (02) 6277 7420
- DFAT Media Liaison: (02) 6261 1555