Minister for Resources and Water Keith Pitt joined Member for Dawson George Christensen in Mackay to officially announce the North Bowen and Galilee Basin Strategic Basin Plan. “The Plan supports industry to develop the region’s major gas resources and is the second to be delivered under the Government’s Strategic Basins Plan Program,” Minister Pitt said. “The North Bowen and Galilee basins are estimated to hold enough gas to meet Australia’s east coast needs for over a decade. The new plan will support industry to overcome the specific challenges of developing these resources.
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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.
Read moreVale 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.
Read morePNG 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.
Read moreInfrastructure 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.
Read moreReform 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.”
Read moreTaking the big smoke to the bush
“Not by a decentralisation policy where we shift public servants from government agencies out into country towns. But where we flip that model, identify the unique competitive advantage of the region, and use that to attract people … but also businesses who are keen to relocate if we get the infrastructure piece right.”
Read moreMAKE 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.”
Read moreFinalists are announced for the 2021 Women in Industry Awards
Gina Rinehart, Executive Chairman, Hancock Prospecting finalist for 2021 Industry Advocacy Award.
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