Thursday, 21 September 2017 Sydney
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Doing Business with Western Australia::

About Western Australia

Western Australia, with a population of less than 2.2 million, covers a vast area of 2.5 million square kilometres and has a coastline stretching more than 12,500 kilometres.The State’s capital, Perth (population 1.6 million), is a beautiful, clean, safe city, located over a thousand kilometres from the mines, oil and gas fields of the major mineral province – the Pilbara.

Western Australia’s Gross State Product per capita income at current prices in 2007-08 was $73,683,
the highest of any other Australian State and well above the national average of about $53,523.

Western Australians enjoy high living standards, quality housing as well as world-class education and health services. The State’s industry also operates to high environmental and safety standards.

Rated the world’s fifth most liveable city by the Economist Intelligence Unit, Perth is a green and tree-filled city built around a magnificent river, and along a coastline of white sandy beaches and clear blue waters.

Planning for the future

Renowned for its strong performing resources sector, Western Australia is a reliable and competitive source of high quality minerals and petroleum.

The State is preparing for future growth, with a wide range of new resources being developed including rare earths, lithium and uranium.

A $4 billion deep water port, rail and industrial land project, currently underway at Oakajee, will also help to service the resource rich Mid West region.

In the petroleum arena, natural gas reserves of up to 4,480 billion cubic metres have been discovered in Western Australia and are among the 10 largest resources in the world.

Large investments into new gas production and liquefied natural gas (LNG) processing are also underway or under consideration, and will more than treble Western Australia’s annual LNG production capacity. This is currently 16.3 million tonnes or about 10 per cent of the world’s production.

Western Australia is also planning for a new LNG precinct which will enable the development of major new gas fields in the Browse Basin, located off the State’s far northern coast. The area has revealed reserves of natural gas which, have to date, reached 840 billion cubic metres with future discoveries predicted.

The State’s capital city, Perth, is also a major centre for petroleum and sub-sea exploration expertise. A growing number of international companies are choosing the city as the base for operations in the Asia Pacific.

New business opportunities

Beyond Western Australia’s predominant resources industry, the State also offers new business opportunities in the education, training, services and technology sectors.

The State’s educational institutions attract more than 49,100 students from overseas destinations. Western Australia currently holds the fourth largest student population in Australia, 8 per cent of those are international students. Popular areas of study include management, commerce, engineering, information technology, language and culture.

High standards of research and teaching in Western Australia’s universities and vocational institutions also help to support the development of the State’s world-class industries and services. 

A wide range of advanced management, engineering, information and industrial expertise and technology is behind Western Australia’s success as a major global resources producer and exporter.

 

This has developed through meeting the challenges of finding, extracting and shipping resources at competitive prices from remote locations in hostile landscapes and deep off-shore waters.

Western Australia is a mineral and petroleum rich State with a proven track record of successful resource projects and strong economic growth which is forecast to continue in these sectors in the medium to long term. However there are many more reasons to invest in Western Australia including:

· A skilled and productive workforce

· An outwardly focused business culture

· Low sovereign risk and pro-development government policies

. Comprehensive air, land and sea transport systems for people and freight

· Close proximity to expending markets in Asia

· An attractive lifestyle for international investors with its open, relaxed and multicultural environment.

For more information about investing in Western Australia visit: www.dsd.wa.gov.au/investinwa