US investment needed for Australia to engage with Asia

North Queensland based Senator Ian Macdonald welcomed Trade Minister Andrew Robbs call this week for US investment in Australia.

Mr Robb told a Los Angeles audience this week that for Australia to fully achieve its potential in trading with Asia and Pacific, it needed informed US capital and knowhow and nowhere in Australia is this more important than in the North, Senator Macdonald said.

We in the North are fully aware of the enormous economic potential of Northern Australia.

We are perfectly placed to take the best advantage of the Asian century and the burgeoning Asian middle classes with agriculture, mining, health and medical research, energy and education just a few of the largely untapped resources of Northern Australia.

But we recognise that for this potential to be realised, significant investment must be made and that will require capital from private investors.

The Governments role is as a facilitator, to make economic decisions which attract investors and to ensure that this investment goes to where it is needed most. That is a role the Abbott government has started to implement.

The Joint Select Committee on Northern Australia is part of that process and will present a report to the Parliament on the the future development of Northern Australia.

This is an opportunity for everyone who has ideas for developing Northern Australia to its maximum potential to have their say, he said.

Submissions on the development of Northern Australia should be sent to the Joint Committee at [email protected].

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