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WESTERN AUSTRALIA AND PERTH - Investment Destination Profile 2010::

Western Australia is the heart of the natural resources industry. This is the case for Australia as well as Pacific Asia. 250 mines and 35 petroleum operations lent production to more than US$25 billion in revenue last year, accounting for close to 40% of Australia's overall minerals and petroleum output.

 

MARKET SIZE

 

Western Australia’s Gross State Product (GSP) - essentially13.6% of the Australian economy - was approximately $169,950 million in 2009.

 

 

KEY INVESTMENT AREAS

 

Key investment areas include:

 

Agriculture

Agriculture is the second major export industry in Western Australia. From open range grazing and broad acre cereal cropping to irrigated pastures and horticulture, orchards and vineyards, its vast area provides soils and climates suited to a variety of agricultural production. Wheat, wool, beef and lamb are its main products, while tropical and temperate horticultural products and stock feed are important as well.

 

Mineral and energy resources

Western Australia is a leading supplier of many commodities with more than 270 operating mines. Some of these commodities include diamonds, iron ore, mineral sands, alumina, monazite, limonite, rutile/synruite and zircon. Additionally, it produces 70 per cent of Australia’s gold, and a large amount of exports of salt, nickel, tantalum and many other metals.

 

Manufacturing

Processed mineral and agricultural products comprise Western Australia's major manufacturing exports, while elaborately transformed products by local firms have also experienced success. Major investments in recent times have established facilities producing chemicals, mining and electronic equipment and pharmaceuticals.

 

Education

Its five universities, state technical and continuing education system, private vocational colleges, and public-private school systems cater to more than 500,000 students each year, 9,500 of them international students.

 

Tourism

Western Australia offers a sound domestic tourist market helping to contribute to the growth of its international and interstate visitors, tourists, students, business people, conference delegates, all of which are projected to increase strongly in the next five to ten years.

 

 

WHY INVEST IN WESTERN AUSTRALIA

 

Strong Economic Growth

Western Australia's economy is dynamic and built on strong international investment and trade. It grew in from 2008 to 2009 despite the global economic downturn.

 

A Mineral and Petroleum Rich State

Minerals and petroleum are dominant industries in the Western Australia economy and strong growth is forecasted for these sectors in the medium to long-term future.

 

A Proven Track Record of Successful Resource Projects

Western Australia's track record is distinguished in the development of large, technically advanced mineral and petroleum processing projects. It draws Investment capital from all over the world, matching its development potential with world-class engineering, construction and project management capability. 

 

A Skilled and Productive Workforce

Having a highly skilled workforce of over 1.1 million people, Western Australia has levels of education and technical skills that rival the best in the world.

 

An Outwardly Focused Business Culture

Western Australia's outwardly focused business culture contributes significantly to its industrial growth. Through a long history of exporting, Western Australian businesses know how to compete with the world’s best, especially in the large neighboring Asian markets.

 

Proximity to Expanding Markets in Asia

Ideally positioned for access to virtually every significant market in Asia, Australia, the Indian Ocean region and beyond, it offers great benefits to businesses trading in the region.

 

Industrial Land and Infrastructure

Perth offers comprehensive air, land and sea transport systems and services that move people and freight efficiently through the city, sate and to interstate and overseas destinations.

  

Lifestyle

Western Australia offers an open, relaxed and multicultural environment for international investments and an attractive lifestyle for doing business.

 

FACTS

According to Western Australia’s Department of State Development:

 

1) Western Australia is one of the most productive and diversified mineral and petroleum regions in the world, with more than 50 mineral and petroleum products being produced in commercial quantities worth around US$63 billion annually. The State leads the Nation in minerals and petroleum output and produces a significant proportion of the world’s trade in several key commodities.

 

2) Western Australia is the closest Australian State to the Indian Ocean region, which now accounts for 38% of Australia's exports. Perth shares its time zone (and languages) with many Asian countries, which enhances its access to Asian markets and makes contact easy during normal business hours. Significantly, and uniquely among Australian cities, Perth companies can also contact Europe during business hours.

 

3) Western Australia’s vast land transport networks include more than 17,000km of toll-free roads, a 6,400km public rail system and 1,000 km of private rail track to resource operations.

 

4) There are 14 modern, efficient seaports to handle export cargo.

 

TRENDS

 

Demographics: The fact that more than 30% of Western Australia's population is born overseas allows the workforce to communicate relatively easily with countries and businesses around the world, particularly those in Asia and Europe.

 

Increasing and Continuing Demand from Asia for Minerals and Resources: Despite the global economic downturn, Western Australia's economy grew from 2008-2009. The State's medium to long-term outlook continues to remain strong as it seeks to export a large amount of mineral and energy resources to Asia, particularly China and Japan.

 

 

REFERENCES

Western Australia Department of State Development www.dsd.wa.gov.au

Austrade www.austrade.gov.au

DFAT www.dfat.gov.au

Foreign Investment Review Board www.firb.gov.au


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