The Joint Standing Committee on Trade and Investment Growth, chaired by George Christensen MP, is conducting an inquiry into supporting Australia’s Exports and Attracting Investment.
As part of its inquiry, the Committee will be looking at the ambition of Australian Businesses to grow via export and attract investment, local regulatory barriers, and examples of best practice regulation to support export and investment growth.
The Australian Investment Council has made a submission which includes 11 recommendations:
1. Provide startups and SMEs with support through partnerships, grants and procurement
2. Launch a Regional Innovation Fund
3. Ensure the policy environment around foreign investment remains stable
4. Develop equity co-investment programs to encourage private equity investment into new and emerging businesses
5. Strengthen trading ties regionally and globally, through bilateral and multilateral agreements and policy settings that seek to encourage trade and investment
6. Expand Austrade’s role to help larger, mature high-growth companies through a more tailor-made approach to expanding into overseas markets.
7. Introduce measures to make Australia more competitive as an investment destination
8. Address uncertainty around the R&D Tax incentive including making no further cuts or changes
9. Introduce a talent visa program targeting entrepreneurs and other highly skilled professionals such as engineers, technology experts and scientists from overseas to boost the pool of talent available to startups and scale-ups
10. Address labour shortages by funding institutions that can develop and deliver courses for tertiary students aimed at fostering entrepreneurship and teaching digital STEM skills
11. Make long-term patient capital investment a policy priority.
To read our full submission click here