SYDNEY: The Australian Investment Council welcomes the Prime Minister’s
pre-budget announcement today that government will concentrate on the
development of six core industries for the future of Australia’s
“The Council supports government’s focus on advanced manufacturing in
industries where we already are, or could be, world leaders and going
narrow and deep in developing them further,” Yasser El-Ansary, chief
executive of the Australian investment Council said.
“At this critical juncture in our national response to the COVID-19
pandemic, it is vitally important for our economic recovery and Australian
jobs that our manufacturing capability can effectively and confidently grow
and attract investment for the future. It is an important step towards
supporting the rebuilding of business activity across the Australian
economy and in sending a global message that Australia is open for
“Government’s consultative approach in seeking input from industry leaders
and experts to develop ‘road maps’ for each sector for the short, medium
and long term will provide a unique opportunity to reshape Australia’s
manufacturing sector and the associated job and research opportunities for
“As Australia transitions out of the COVID-19 downturn we must ensure that
the economic recovery is underwritten by big gains in innovation and
technology to drive increased productivity in manufacturing that will boost
our global competitiveness and attract investment into the sector.
“Private capital can play a central role as an important investment and
efficiency driver for Australian industries and businesses and in lifting
business productivity, competitiveness and growth as part of the national
effort to re-start activity across our economy,” Mr El-Ansary said.
In June 2020 the Australian Investment Council released a comprehensive
plan outlining the views of private capital investment leaders about the
priority policy reforms necessary to guide the economy back to growth.
Roadmap to Recovery – Creating a Stronger and More Dynamic Economy
sets out priorities which span a mixture of short-term and longer-term
reforms that will underwrite the next wave of economic growth.
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About the Australian Investment Council
The Australian Investment Council is the voice of private capital in
Australia. Private capital investment has played a central role in the
growth and expansion of thousands of businesses, which when combined
represents a multi-billion-dollar contribution to the Australian economy.
Our members are the standard-bearers of professional investment and
include: private equity, venture capital and private credit funds,
alongside institutional investors such as superannuation and sovereign
wealth funds, as well as leading financial, legal and operational advisers.