Ms LAWRIE - 2001-10-23
Agribusiness has long been talked about as having potential in the Territory. Can the minister inform the House if there have been any recent developments in this area?
ANSWER
I thank the member for her question, Madam Speaker. It is my pleasure to report to the House today that there is further evidence that, despite recent events, business and investment in the Northern Territory goes on and the Territory is moving forward positively, in spite of recent events. Over the last two weekends, I have had the pleasure of officiating at both the Export Awards and the Darwin Business Awards. There are any number of success stories of businesses that are out there, in tough economic times, kicking goals and doing good business.
One area of great potential for the Northern Territory is agribusiness. Last week I had a positive meeting with Marcus Elgin of the Australian Agribusiness Group. This group plans to start capital raising next month for a $50m venture capital fund focused on agribusiness Australia-wide. The new $50m fund …
Mr Elferink: Why wasn’t this a ministerial report?
Mr HENDERSON: You might be interested to know, member for Macdonnell, in terms of the potential for your part of the world, in terms of value-adding, and you might want to listen to this.
Now, if you are not interested …
Madam SPEAKER: Order! Minister, would you direct your remarks to me. Member for Macdonnell, would you stop addressing your remarks across the floor.
Mr HENDERSON: I defer to your ruling, Madam Speaker, but interjections from the other side are sometimes hard to resist in terms of following up on.
The new $50m agribusiness fund will have strong interest in identifying Northern Territory agribusiness investment opportunities, and take a leading role in helping those businesses to be investment ready, and then to access those equity funds.
The Australian Agribusiness Group will be opening an office in Darwin in February next year because they see the opportunities here in the Northern Territory as being very exciting, and amongst the best opportunities for investments in these industries in Australia. They will be opening an office here next year, and it gives our primary producers, people in the agricultural sector, an opportunity to access a further source of funds.
The Northern Territory is in an exciting stage of our development. The Leader of the Opposition did mention this, that in despite of the doom and gloom around current circumstances, we still are the land of opportunity. There are major opportunities occurring, in spite of the opposition continually trying to talk down what is currently occurring.
Our economy is diversifying, it is maturing, and this group is excited about the impact of the railway and/or Timor Sea gas, and the new investment which these will attract. In their view, we have the land, the water, the energy, the logistics and access to the huge Asian markets, which place us at the very forefront of Australian agribusiness opportunities. This is indeed a good news story.
Marcus Elgin is not alone in being bullish. He is bullish about the future of the Northern Territory. Our new government is working closely with business in partnership - that will be extended at the economic summit - and we will build a better Territory, looking at every opportunity possible to talk up what is happening out in our economy at the moment.
It is important to understand that agribusiness is also about value-adding. It is talking about packaging, storage, transport and marketing, and the services and the jobs that these opportunities will create. The Territory can only benefit from being brought up to date with new technologies and new ideas. I am very pleased to see that this fund will be opening up their doors in February next year. I look forward to reporting back to the House with further information as it comes to hand.
ANSWER
I thank the member for her question, Madam Speaker. It is my pleasure to report to the House today that there is further evidence that, despite recent events, business and investment in the Northern Territory goes on and the Territory is moving forward positively, in spite of recent events. Over the last two weekends, I have had the pleasure of officiating at both the Export Awards and the Darwin Business Awards. There are any number of success stories of businesses that are out there, in tough economic times, kicking goals and doing good business.
One area of great potential for the Northern Territory is agribusiness. Last week I had a positive meeting with Marcus Elgin of the Australian Agribusiness Group. This group plans to start capital raising next month for a $50m venture capital fund focused on agribusiness Australia-wide. The new $50m fund …
Mr Elferink: Why wasn’t this a ministerial report?
Mr HENDERSON: You might be interested to know, member for Macdonnell, in terms of the potential for your part of the world, in terms of value-adding, and you might want to listen to this.
Now, if you are not interested …
Madam SPEAKER: Order! Minister, would you direct your remarks to me. Member for Macdonnell, would you stop addressing your remarks across the floor.
Mr HENDERSON: I defer to your ruling, Madam Speaker, but interjections from the other side are sometimes hard to resist in terms of following up on.
The new $50m agribusiness fund will have strong interest in identifying Northern Territory agribusiness investment opportunities, and take a leading role in helping those businesses to be investment ready, and then to access those equity funds.
The Australian Agribusiness Group will be opening an office in Darwin in February next year because they see the opportunities here in the Northern Territory as being very exciting, and amongst the best opportunities for investments in these industries in Australia. They will be opening an office here next year, and it gives our primary producers, people in the agricultural sector, an opportunity to access a further source of funds.
The Northern Territory is in an exciting stage of our development. The Leader of the Opposition did mention this, that in despite of the doom and gloom around current circumstances, we still are the land of opportunity. There are major opportunities occurring, in spite of the opposition continually trying to talk down what is currently occurring.
Our economy is diversifying, it is maturing, and this group is excited about the impact of the railway and/or Timor Sea gas, and the new investment which these will attract. In their view, we have the land, the water, the energy, the logistics and access to the huge Asian markets, which place us at the very forefront of Australian agribusiness opportunities. This is indeed a good news story.
Marcus Elgin is not alone in being bullish. He is bullish about the future of the Northern Territory. Our new government is working closely with business in partnership - that will be extended at the economic summit - and we will build a better Territory, looking at every opportunity possible to talk up what is happening out in our economy at the moment.
It is important to understand that agribusiness is also about value-adding. It is talking about packaging, storage, transport and marketing, and the services and the jobs that these opportunities will create. The Territory can only benefit from being brought up to date with new technologies and new ideas. I am very pleased to see that this fund will be opening up their doors in February next year. I look forward to reporting back to the House with further information as it comes to hand.
Last updated: 09 Aug 2016