Page 3360 - Week 11 - Wednesday, 18 September 2013

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Meanwhile, InvestACT has been established to promote business and investment opportunities in the region to overseas investors. InvestACT is developing an ACT investment strategy that will guide our approach to investment promotion, building upon evidence of what works in similar cities to Canberra around the world.

InvestACT is developing a web presence and marketing material to raise awareness of Canberra’s value proposition and to increase the invest in Canberra message. To highlight a practical example of InvestACT’s role, it played a key role in facilitating interest in auctions for solar facilities in the territory. These facilities will foster new investment and new jobs in a burgeoning industry for our community.

MADAM SPEAKER: A supplementary question, Ms Berry.

MS BERRY: Minister, are the trade and investment promotion activities in the business development strategy helping to diversify and grow the ACT economy?

MR BARR: Yes, they are. The government’s work to support exports and investments is creating new jobs and diversifying our economy. Global Connect and InvestACT are delivering on their objectives of creating new jobs and diversifying the territory economy.

To highlight just a few examples of the significant successes over the last 12 months: Aspen Medical, whose revenue has grown from $32 million to $95 million over 2012. Seeing Machines, which emerged from the ANU research and development area, signed a significant strategic agreement with Caterpillar Global Mining for its in-cab fatigue monitoring systems. Bearcage Productions—as the Chief Minister mentioned earlier in question time—has signed the first ever formal co-production agreement for a documentary television series between Australia and China Central Television. Datapod has exported its innovative data units to Papua New Guinea and Sweden during the 2012-13 fiscal year.

These are just a few examples of the excellent work that is occurring across the ACT economy. It is a more diverse economy than it was in 1996 and more resilient to the threats that come down the pipeline from a federal Liberal government.

MADAM SPEAKER: A supplementary question, Mr Gentleman.

MR GENTLEMAN: Minister, are there any other components of the business development strategy that are helping to promote exports and investments in the ACT?

MR BARR: The business development strategy, indeed, contains numerous policies and programs to support exports and investment. Study Canberra, which the Chief Minister talked about in question time today, is just one of these initiatives. The ACT government’s $2.4 million investment in study Canberra recognises the importance of education exports in helping our local universities to attract more students to the territory. The education sector has played a major role in the growth of ACT exports, and the government is committed to working with the sector to achieve further growth.

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