Queensland business and industry will be thrust into the spotlight in London today when Minister for State Development, Manufacturing, Infrastructure and Planning Cameron Dick addresses UK business leaders to reinforce that Queensland is open for business and primed to partner with them.
“I am hosting a roundtable event to bring together people of influence in the business and industry sector interested in two-way trade and investment opportunities between Queensland and the UK so we can identify and explore those opportunities together,” he said.
“This roundtable is an invaluable opportunity to directly engage with influential international business chiefs and promote the many advantages of doing business in Queensland, as well as championing our desire to build long-term trade and investment partnerships.
“We know that the time is ripe to capitalise on our Gold Coast 2018 Commonwealth Games trade and investment program to further expand on the many unique opportunities Queensland has to offer UK businesses.
“Our government is driving a raft of programs and incentives to attract UK and international business partners, strengthen existing relationships and build connections for Queensland companies to help grow our economy and create jobs for our state.
“We want the message to resonate with international business leaders that there is no better time than now to explore and engage with those programs.”
“Our $65 million Advance Queensland Industry Attraction Fund has already assisted nine companies, including several international businesses, to establish and expand their operations in Queensland.
“So far, we’ve attracted more than $260 million in business investment and generated close to 620 new direct jobs over the next five years through AQIAF, and we welcome more UK international companies becoming a part of this success story.
“I also want to encourage UK businesses to consider our government’s $130 million Jobs and Regional Growth Fund, which aims to bring more investment to Queensland’s regional communities."
Mr Dick said his trip to London represented a prime opportunity to explore how the UK can help shape Queensland’s future through long-term business partnerships with organisations seeking to develop in Australia’s great state.
“We know Queensland is a strategic and desirable destination to do business and to base business, and I want to drive that message home to the global business community from London,” he said.
“KPMG’s Competitive Alternatives 2016 report ranked Brisbane in the top 30 of 111 locations around the world in terms of costs of doing business.
“Queensland also boasts Australia’s most competitive taxation regime, with one of the lowest overall payroll tax rates.
“Forging these valuable relationships with international businesses now in the UK will support the economy-boosting and job-creating trade and investment for Queensland into the future.”
Minister Dick said Australia and the UK have an extensive economic and trade relationship and have a large commercial presence in each other’s country.
The UK is also Australia’s leading EU trade partner.
In 2016-17, two-way trade in goods and services was worth about $28 billion, with Australian exports worth almost $13 billion.
“Queensland is a diverse, modern and vibrant economy worth $300 billion, and this trip is about giving London a taste of the Sunshine State’s strong performance and remind them of our industry and business incentives,” Mr Dick said.
“Meeting with a diverse range of investors and business leaders is key to building Queensland’s reputation as a preferred destination for trade and investment.
“I am here to say Queensland is not only open for business, but is making business happen.”
Minister for State Development, Manufacturing, Infrastructure and Planning
The Honourable Cameron Dick