Global NSW Strategy will boost innovation and productivity

SYDNEY: The Global NSW strategy announced today by NSW Premier, Gladys Berejiklian, will provide a significant boost to country’s innovation and productivity according to the Australian Investment Council.

“Investment into industries like AgTech, projected to be Australia’s next $100 billion industry, and aerospace technologies are central to our expertise,” said Yasser El-Ansary, the Council’s Chief Executive.

“Concentrating on growth industries, better training of the workforce, easier access to business capital and opening up trade opportunities from the new MOUs will be significant drivers in Australia’s broader economic growth that will create the next wave of global businesses and new, highly skilled, well-paid jobs.

“The private capital industry is committed to supporting initiatives that will create jobs for the future and economic growth.

“In 2018 alone, Australian private capital funds secured an impressive $6.6 billion in new funding commitments, which brings the amount of committed capital available to be invested into high growth potential Australian businesses to around $11 billion today.

“The professional business growth and strategic skills that come with private capital investment often lead to expansions in the workforce of businesses that attract investment, driven by growth in sales within domestic and international markets, and greater levels of investment into innovative market-leading research and development.

“There is a global shift underway right now which is evident in the significant volume of new investment commitments being allocated into private capital in developed economies across all economic regions. In 2019, more than $1.2 trillion in new capital has been moved into private markets, which underscores the critically important role that investment into high quality unlisted businesses will play in driving the next wave of economic growth right around the world,” added Mr El-Ansary.