A new taskforce that brings together experts from across the Commonwealth, States and Territories as well as the private sector has been created as part of the Government’s JobMaker plan.
Under this new initiative to support the post-COVID recovery and boost local jobs, international businesses will be attracted to Australia and exceptional talent will be encouraged to come to Australia.
The new, whole-of-government Global Business and Talent Attraction Taskforce will be headed by senior business leader, Peter Verwer AO.
Verwer will be known as the Prime Minister’s Special Envoy for Global Business and Talent Attraction.
The Taskforce will “operate as a ‘strike team’ to turbo-charge the creation of jobs by boosting our efforts to attract high value global business and exceptional talent”.
The initial focus of the Taskforce will be on three key sectors: advanced manufacturing, financial services (including FinTech) and health.
Given that Australia has done well in the management of the pandemic and with a relatively strong economy, the country is strategically well positioned to lure businesses and exceptional talent.
“Australia has always been an attractive destination for talent and investment, but given our relative success economically, from a health perspective, and socially, we will be even more attractive,” Acting Minister for Immigration, Citizenship, Migrant Services and Multicultural Affairs Alan Tudge said in a statement.
The government stressed that Australia has “always been an attractive destination due to our lifestyle, democratic system, clean cities and proximity to Asia. We can use those advantages to bring more global business and talent to our shores and help create more Australian jobs.”
Acting Minister Tudge said the global context had significantly changed and many talented people and businesses will now be looking to places like Australia.
“We want to capitalise on this and be very focussed on attracting key businesses and global super talent to Australia. This will aid our recovery and boost jobs for Australians,” Tudge said.
“The Taskforce will take a whole-of-government approach, including coordinating closely with State Government initiatives. We will be leveraging our networks abroad, including the Australian diaspora, to help identify opportunities,” Tudge added.
The Taskforce has streamlined pathways to Australia for qualified businesses and exceptional talent. These companies and individuals will have access to:
- streamlined pathways to permanent residency
- bespoke advice on how and where to relocate
- industry-specific contacts and support to help them find the right location and networks
- end-to-end service with a single point of contact.
Minister for Trade, Tourism and Investment Simon Birmingham said luring more investment from global businesses in emerging industries would be a critical part of Australia’s overall economic recovery from COVID-19.
“Through this taskforce and the ongoing work of Austrade we will highlight to global businesses that our overall economic management and handling of the COVID-19 pandemic strengthens our reputation as a stable and attractive investment destination,” Minister Birmingham said.
According to Birmingham, as our economy continues to transform, attracting talent and investment will be critical to bringing additional business nous and new technologies to help drive growth in the development of high-value goods and services in emerging industries.
“With one in 10 jobs already supported by foreign direct investment, boosting investment and getting more global businesses to set up shop here will help drive more jobs and opportunities for Australians,” Birmingham said.
On 9 July, Prime Minister Scott Morrison announced that Australia would develop incentives to attract export orientated Hong Kong based businesses to relocate to Australia.
This initiative builds on this idea, and the Global Talent and Business Innovation and Investment programs, to attract high value businesses and exceptionally talented individuals to Australia to create jobs for Australians.
The Taskforce will join up the Department of Home Affairs with the Australian Trade and Investment Commission (Austrade), and draw on expertise from the Treasury, the Departments of Foreign Affairs and Trade, Industry, Science, Energy and Resources, Defence, and the Department of Education, Skills and Employment.
They will work closely with the States and Territories, industry leaders and specialists in identifying and executing opportunities.
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