Northern Territory Government Newsroom

Economic Summit Series Enters New Phase

More than 114 organisations and 250 people have taken part in the extensive first round of Economic Summit consultations.

 

The Economic Summit series – announced by the Territory Labor Government upon coming to office - will shape the next 10 years of the Northern Territory’s economic development.

 

The first round of consultation with business and industry representatives winds up today, with Chief Minister Michael Gunner addressing participants at their final meeting in Darwin.

“We want this economic plan to last beyond political cycles and electoral terms; that’s why we are going through a process that makes this community-owned across economic sectors – a long-term plan for the Territory’s future,” Mr Gunner said.

 

“We want to build a better Territory by driving economic development and creating jobs for current and future Territorians. We are already addressing the urgency to get money flowing into the community by announcing 37 new or fast-tracked projects across the NT, as well as releasing a $22 million Immediate Works Package.

 

“An Economic Development Framework for the NT will identify and explore immediate and future actions that the Government can undertake to ensure a strong sustainable economy and jobs growth.

 

“So far the Economic Summits have engaged 114 organisations and around 250 people, and early in the New Year, Territorians will have the opportunity to contribute as a series of mini-summits – or public forums - get underway across the NT.”

 

Mr Gunner said initial consultations revealed several common issues including limitations around the key factors of production – land, labour and capital. Enterprise and innovation, connectivity, relationships and liveability also featured strongly.

 

“From the common issues raised, six preliminary factors or ‘levers’ have been refined which we can utilise to accelerate economic growth - Land, People, Capital, Enterprise and Innovation, Connectivity and Liveability,” Mr Gunner said. 

 

“These levers will be the focus of the next summit process to develop principles, targeted strategies and recommendations.

 

“We want to work together to build a better Territory by driving economic development and creating jobs for current and future Territorians.

 

“This Government is paying close attention to the priorities that have been raised by community and industry to date, and I am looking forward to attending the final Summits. “

 

Media Contact:

 

Cameron Angus 0404 021 192