Territory Stories

Driving international engagement and economic opportunities for the Territory

Details:

Title

Driving international engagement and economic opportunities for the Territory

Member

Manison, Nicole Susan

Political affiliation

Australian Labor Party

Collection

Media Releases for 14th Assembly 2020 -; Media Releases; ParliamentNT

Date

2022-03-28

Notes

Made available via the Publications (Legal Deposit) Act 2004 (NT)

Language

English

Subject

Economic development; International commerce

Publisher name

Northern Territory Government

File type

application/pdf

Use

Issued as a Media Release

Copyright owner

Northern Territory Government

Parent handle

https://hdl.handle.net/10070/860162

Citation address

https://hdl.handle.net/10070/860164

Related items

https://hdl.handle.net/10070/860163

Page content

Furthermore, the Northern Territory Governments target to reach a $40 billion economy by 2030 necessitates a step-change in how the Territory does business. This strategy has been developed in consultation with industry and business leaders and lays out our most sustainable, ambitious, and engaging plan to expand the Territorys global presence while also securing and building upon our current business and international relationships. Underpinning our vision are primary goals that have been established to direct our course of action from 2022-2026. GLOBAL MEGATRENDS & OPPORTUNITIES Global trade and engagement conditions have never been more challenging. Geopolitical developments and the COVID-19 pandemic are driving an unpredictable landscape for Australian business, industry, and community. Global megatrends are long-term factors changing the world. They can influence the relative priority of industries and sectors, investment decisions, and international trade. They can also create opportunities. Climate change: driving the demand for renewable energy sources and reduced net emissions. The Industrial Revolution 4.0: driving an acceleration of technical advances, impacting a range of sectors and reducing barriers of remoteness. Structural shifts in the international system: Asias growing influence and geopolitical uncertainty. Inclusive societies: growing global community consciousness through UN Sustainable Development Goals draws attention to the elevation of Aboriginal voices and benefit. Environmental, Social & Governance (ESG): emerging priority focus of investors provides opportunity for the Territory. COVID-19: future of work, travel and opportunities and challenges created by supply chain disruptions. INTERNATIONAL ENGAGEMENT STRATEGY GOALS 2022-26 The Territory is a world-class investment destination in key sectors. The Territory demonstrates stregthened international partnerships and collaboration. Territory export products, services and markets are grown and diversified for resilience and job-creation. These goals address our interests across international investment, trade and engagement. They are also interconnected, thereby creating an interdependent plan of action that will optimise efforts to achieve our targeted outcomes. The following provides details on how we plan to deliver on these ambitions, as well as outlining the key success factors needed to support the desired outcomes. 7


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