Canberra’s centenary year has been both a celebration of our past and an opportunity to envision our city’s future. Here in the Territory we have a very bright future. We’re different – and we’re different in the best of ways.
From a business perspective we have unique offerings: world-class research and educational institutions, unrivalled access to government, a well connected and collaborative business community, and a workforce that is the best educated in the country.
But we need to get the word out about Canberra and what it has to offer new businesses and investors.
One of the guiding principles of the ACT Government’s Business Development Strategy is that: “Cities need to actively shape and project their competitive proposition to attract people and investment.”
We are working hard across many fronts in government to shape and sharpen our competitive position – through initiatives such as tax reform, reducing red tape, business cost reduction through payroll tax cuts, and many others.
In particular, we’re taking a new and proactive approach to attracting investment.
Recently I launched Invest Canberra.
Invest Canberra is the ACT Government’s investment agency to promote and attract national and international direct investment.
It is a dedicated entity within the Economic Development Directorate, and will provide investors with a single point of contact to assist with market intelligence, provide support through and after the investment process, and help with business connections. It will also bring together capabilities across key government agencies and respond quickly to investment leads.
The investment strategy involves both short and longer term initiatives. In the short term Invest Canberra will promote and secure investment into key infrastructures projects that meet the immediate needs of business, the Government and the community. It will also facilitate reinvestment and expansion by existing foreign investors.
In particular, we want the Government’s transformational projects – notably Capital Metro, City to the Lake, new Convention Centre, CBD stadium and northside hospital – along with the broader opportunities in the private sector, to be visible to investors on a national and international scale.
We want partners that can help deliver the best and most innovative solutions, and we want value for money for the people of Canberra.
That is what investment promotion agencies do – they crystallise opportunities, they identify partners and potential investors and they bring them together. And they facilitate good and timely decision making inside Government so projects land quickly.
In the longer term, our strategy aims to secure investment in innovation and new technologies. Invest Canberra will collaborate with our universities and technology companies to achieve this.
We will also attract investors that will find Canberra suitable as a government city location for their regional and international headquarters.
The focus will be on investment priorities that match Canberra’s competitive advantage. These priority investment sectors are: defence and security; digital solutions and e-Government; health and sports science; innovation and higher education; space, satellite and spatial science areas; and tourism infrastructure.
By harnessing new investment we can grow the private sector, which will allow Canberra businesses to leverage new opportunities.
Invest Canberra ensures that we have a single, easily recognised point of investment facilitation.
Quite simply, Invest Canberra demonstrates our commitment to working with investors and our commitment to Canberra’s development and prosperity.
For more information: investcanberra.com.au.
Andrew Barr
Chief Minister of the Australian Capital Territory (ACT)
www.andrewbarr.com.au
