Australian Consulate-General, Guangzhou
Media Release PD23/07 Date: 24/07/2007
INVEST AUSTRALIA ATTRACTS $14.1 BILLION OF INVESTMENT
INTO AUSTRALIAN ECONOMY
Invest Australia, the Australian Government's inward investment agency, has again successfully achieved an increased level of performance exceeding its investment targets of the past financial year attracting over $14.1 billion of investment into the Australian economy.
Over last financial year, Invest Australia's investment project successes have increased from 94 to 98 – a figure which has more than doubled over the last five years.
In 2006/07, the 98 projects Invest Australia attracted or facilitated are worth over $14.1 billion and have the potential to create or safeguard 6,525 jobs and generate nearly $4.5 billion in exports earnings.
Ian Macfarlane, Minister for Industry, Tourism and Resources, said this demonstrates that Invest Australia plays a crucial role in attracting and facilitating investment into Australia and contributing to the nation's economy.
"To remain globally competitive and capture our share of the burgeoning economic activity that is occurring in the Asia-Pacific, Australia needs to continue to actively attract foreign investment," said the Minister.
With the highest number of investments in 2006/07 the US remains Australia's parent investor, however the largest source of investment was from the UK. China had the second highest number of projects, as well as the second largest source of foreign direct investment.
Now into its 16th year of uninterrupted economic growth Australia's economy is growing at 3.3 per cent and is predicted to outperform most other OECD economies in 2007. This combined with a highly stable political environment provides Australia with a unique combination of growth and stability make it an attractive destination for Asia-Pacific based investment.
Conversely, Australia's strong resource sector makes it an ideal destination for Chinese investment and Australia is a key player in meeting China's demand for resources to sustain its economic development and growth.
"Foreign direct investment is vital to Australia's economic future. Foreign firms provide employment opportunities for many Australians and contribute significantly to Australia's export earnings and research and development activity.
"In fact, foreign investment accounts for 14 per cent of employment, or about 1.3 million jobs, 50 per cent and 46 per cent of the value of goods and services exported respectively and 42 per cent of private spending on research and development," concluded the Minister.
With 714 investment leads being actively pursued by Invest Australia, the Australian Government has a strong pipeline of future investment to sustain the prosperity of our economic future.
Over the five years to 2006/07, Invest Australia has played a verified role in attracting or facilitating 387 projects worth approximately A$55.8 billion, with the potential to create more than 27,900 jobs and generate A$12.6 billion in export earnings.
For further information, contact Ellen Chen, Public Affairs Officer on
（020）3814 0183.