Australia’s Parliamentary Secretary for Trade, the Hon, Anthony Byrne MP, said an increase in trade between Australia and Korea in the clean and renewable energy sector would help reduce the threat of climate change.
Byrne said creating a low carbon, green economy to fight climate change is the next step in the two countries’ relationship, and it is a welcome one.
Speaking about the ‘Clean and Renewable Energy Market Opportunities in Korea and Australia’ report launched in Adelaide, Byrne added that trade and investment in these emerging technologies provided a new pathway to strengthen Australia’s commercial and diplomatic ties with Korea.
A clean energy delegation on visit from Korea also attended the launch.
Australia's Assistant Treasurer, Senator Nick Sherry, and Minister for Financial Services, Corporate Law and Superannuation, Chris Bowen, announced that the Board of Taxation would undertake a comprehensive review of Australia's tax laws to ensure that, wherever possible, they do not inhibit the expansion of Islamic finance, banking and insurance products.
The Assistant Treasurer, made the announcement at a major business event in the United Arab Emirates (UAE) jointly organised by the Australian Business Group of Abu Dhabi and The Australian Business Council of Dubai, with the support of the Abu Dhabi Chamber of Commerce and Industry and attended by key figures from business, finance and banking community across the Gulf Region.
Australia's first major contract manufacturing facility for biologic medicines is set to be built in Queensland by 2012.
Making the announcement at BIO Chicago yesterday, the Federal Innovation Minister Senator Kim Carr and Queensland Premier Anna Bligh said the Brisbane-based facility would be operated by international drug manufacturer DSM Biologics.
The Queensland Government has provided $7 million in seed funding for the facility under its ten-year Biotechnology Strategic Plan and the Commonwealth is investing $10 million as part of its ongoing push to win high-tech, high-value jobs and industries for Australia.
Australian Federal Minister for Immigration and Citizenship, Senator Chris Evans, has announced measures to strengthen the integrity of the current student visa program, which will make the visa application process easier for genuine full-time students, he said.
The latest measures, which include changes to the assessment of students studying more than one course, increased powers to cancel visa and streamlining the processing of postgraduate students, will also impose additional checks on those who may seek to abuse the system, according to Senator Evans.
Major property investors believe Australia's property market is in a faster stage of up-swing than other markets around the world, new research released by Colliers International reveals.
The Colliers International Global Investor Sentiment Survey, conducted during the first quarter of the year, has shown institutional and private investors around the world believe that if the property cycle were a clock, with the top of the market at 12 o'clock and the bottom at 6 o'clock, Australia is set to swing upwards to 8 o'clock by early next year, from 7 o'clock where it currently sits.
Melton Shire Council, a fast-growing urban area in Melbourne's Western region, is offering a range of incentives to international investors and developers who are contemplating establishing manufacturing operations in Australia.
These incentives are available on Council-owned industrial sites in Toolern Business Park, and they relate directly to the number of new jobs to be created in Melton, which has a large skilled local labour force.
Gujarat NRE, the largest producer of low ash metallurgical coke in India with mining facilities in Australia, will be the sponsorship partner in the seminar series, 'Doing Business with Australia', organised by the Australian Trade Commission (Austrade).
Assistant Treasurer, Senator Nick Sherry, has announced a major tightening of the foreign investment rules as they relate to residential real estate, as well as strict penalty and enforcement measures for breaches of the new regulations.
Under these new regulations, foreign non-residents can only invest in Australian real estate if that investment adds to the housing stock, and that investments by temporary residents in established properties are only for their use while they live in Australia.
Assistant Treasurer Senator Nick Sherry told attendees at the Asian Venture Capital Journal Private Equity and Venture Forum in March that the Australian Government was committed to enhancing Australia's attractive as a destination for foreign investment, with some significant reofrms of aspects of its foreign investment regime already complete.
"On 22 September 2009, we lifted the monetary screening threshold for privately‑owned foreign investors to $219 million — more than twice the previous threshold of $100 million," Senator Sherry said.
Parliamentary Secretary for Trade Anthony Byrne has this week announced the launch of a short film competition designed to showcase the world of international business opportunities in Australia. “The inaugural Austrade 2010 Short Film Competition encourages aspiring young film producers to produce entertaining, and informative films highlighting the opportunities, processes and issues for Australians pursuing international business” said Byrne.
Indian mining firm Gujarat NRE Coking Coal has announced plans to invest $500 million in the expansion of its New South Wales coal mines. Gujarat NRE owns and operates two underground coalmines in the Illawarra region and is set to spend $100 million on their expansion over the next 12 months, with the rest to be invested over the next four years. Chairman of Gujarat NRE Arun Kumar Jagatramka said, “The proposed expansion is expected to quadruple production capacity in the two mines and create an additional 150 jobs, including some apprenticeships, in the next five years.”
The Federal Education Department has welcomed an Indian Government plan to allow foreign universities to set up campuses in India. India’s national cabinet has approved a bill to allow foreign education providers to enter the market amid booming demand for tertiary education. Approximately half of India's 1.15 billion people are under 25 years of age and Kapil Sibal, India's Minister for Human Resource Development, says an estimated 40 million young people will be going to university over the next 10 years in India.
Research collaboration between Australia and China has almost doubled in the past decade, while partnerships with other Asia Pacific nations including New Zealand, India and Singapore are on the rise. According to a new study released by Thomson Reuters, the biggest institutional partner for Australia from 2004-2008 was the Chinese Academy of Scientists, which co-authored 1269 publications with Australian researchers.
Queensland Premier Anna Bligh has announced that the Government will work with industry to develop a $10 million program to train thousands of workers needed for the new Coal Seam Gas (CSG) and Liquefied Natural Gas (LNG) industries. The focus of the CSG-LNG Industry Training Program will be on up-skilling current mining industry workers as well as equipping newcomers with the required skills.
Ireland’s Deputy Prime Minister Mary Coughlan has announced that she will lead 30 Irish companies on a trade and investment mission to Australia in May this year. Designed to promote Ireland as a competitive source of world-class expertise, products and business partnerships, the trade mission will be hosted in Sydney, Melbourne and Canberra, and will allow companies to explore the true potential of setting up operations in Australia.
At today's ABARE Outlook conference in Canberra Tony Eyres, Executive Director of Harvest Capital Partners, told delegates of the increasing interest in investment in agricultural production and farm land from institutional and strategic investors.
The Australian Government has reinforced its commitment to becoming a leading financial services centre in the Asia Pacific region.
Following the release of the Australian Financial Centre Forum's report on Australia as a Financial Centre (the Johnson Report), Assistant Treasurer, the Hon. Chris Bowen MP, said, "Australia, as an open, well regulated and stable economy in the region, is uniquely placed to capitalise on its comparative advantages and to benefit from opportunities to grow Australia's financial services sector," Bowen said.
Post Event (New Delhi) launch conference in Sydney.
The Conference is designed to expose Australian and Indian investment opportunities and overall success of India Australia Investment Forum in New Delhi.