Competitiveness Archives - Page 6 of 16

Timely call to arms for Libs to take the tough decisions

The book Australia Tomorrow’s just launched. Please find a few short excerpts below from Mrs Gina Rinehart’s included essay.
“Agriculture, mining, small businesses, investment and defence are the keys to our nation and our future,” Rinehart observes. “We need our government to stop making decisions influenced by the media of the moment and instead act to make the bold decisions our country needs.” Focusing on the need to eliminate red and green tape, Rinehart reveals her Roy Hill iron ore mine was forced to comply with 4000 pieces of regulation before construction could begin – yes, 4000. The mining billionaire also takes a powerful stand in support of our veterans, slamming their treatment at the hands of government, and showing displeasure at the handling of war crimes allegations. “Given all the serious challenges we face as a country, it was shocking for many good Australians to see the Defence Department order our military to divert to holding rainbow teas and to strip 3000 of our most highly trained military personnel of their medals,” Rinehart writes.

Mohammed bin Rashid issues Law creating Dubai Integrated Economic Zones Authority

The establishment of the Dubai Integrated Economic Zones Authority is a vital move to enhance Dubai’s global competitiveness and raise its investment attractiveness. The private sector is a major partner in our development journey over the next 50 years and the government continues to explore innovative initiatives to support their growth and success. Our objective is to make Dubai the destination of choice for global investors and a major focal point for global commerce.

Vale and Asian miner seek Brazil nod to fast-track mine project

Mining giant Vale SA and an Asian-owned metals producer are among the first to tap a Brazilian program that aims to cut red tape and speed up mining projects in the South American nation.

PNG Government Grants Special Economic Zone status to Central Cement and Lime Project

Managing Director Paul Mulder said “I greatly appreciate the leadership of the PNG Prime Minister & Minister for
Bougainville Affairs & Defence, Hon. James Marape, in the establishment of this SEZ, as it sets the right conditions for
large scale investment to thrive and catalyse down-stream processing in the SEZ that will particularly benefit the
people and the manufacturing industry in PNG.”

How Special Economic Zones are Reshaping the World Economy

SEZs are business parks granted legal autonomy to improve their governance. Companies operating within SEZs enjoy unique tax breaks, streamlined government regulations, special VISA rights and different labor laws. This enables businesses to operate in emerging markets without the usual problems that businesses in the developed world face. SEZs have also rehabilitated traditionally bad investment destinations, creating bastions of economic growth in unlikely locations. The most well-known case studies of this come from China.

Infrastructure key to regional boom

The report says improving regional connectivity is critical to unlocking additional growth and backs a staged investment in transport infrastructure aimed at supporting economic diversification and sustainable population growth. It says this strengthens the case for modern, fast rail improvements. Mass movements of people from cities to towns such as Margaret River in Western Australia and Orange in NSW – both as holiday destinations and places of residence – had sparked huge demand for housing and services. The report says a more coordinated infrastructure policy would meet specific needs by drawing on each region’s competitive advantage, facilitate growth and encourage a better balancing of population growth between cities and regions.

Reform overhaul to put rocket under productivity

With the country already experiencing a peak in major projects, Infrastructure Australia chief of policy and research Peter Colacino said the industry needed to reform in order to meet the looming pipeline of projects. “The industry can’t deliver the scope of work unless it adopts the change,” he said. “We’ve pointed to things that are proven, have delivered productivity gains elsewhere, are well evidenced in terms of what we’re putting forward. These aren’t unproven solutions.”

‘Payroll tax squeezes the life out of sector’

On a federal level Mr Tan said that Treasurer Josh Fydenberg needed to engage with the sector and be guided by them on policy. “Let us show you where the opportunities are and how policy can really help the sector but also very much harm the sector and let us give you some ideas that can help the sector and the economy and the country all at the same time,” he said. “We are trying to solve big problems and sometimes the rules aren’t very clear about what you can and can’t do.”

MAKE BRISBANE SHINE

But Ms Rinehart warned that in the lead-up to Brisbane hosting the world’s biggest sporting event in 2032, governments needed to cut red tape to ensure teams and facilities were ready in time. “I hope our governments now take the bit between their teeth and realise 10 years time is a relatively short time to prepare Queensland for the Olympics, and grasp this opportunity to ensure Queensland shines,” she said. “To do this we must cut government tape to welcome significant investment and businesses, improve airports, improve marinas, build exciting new tourist facilities and accommodation, to really show Queensland and Australia as a must-repeat visit destination.”

Sky News Live | The Outsiders

Rowan Dean Commentary courtesy of Sky News.

Category: Competitiveness