WA open for agribusiness investment

The WA Open for Business program reached a major milestone on December 12 with the opening of a Perth-based trade office to help facilitate up to $10 billion of private sector investment to help transform Western Australia’s agribusiness sector.

Regional Development Minister Terry Redman said the WA Open for Business office was established to facilitate a client management approach supporting increased investment into local agriculture and food businesses. “WA Open for Business will focus on attracting investment in the State’s agrifood sector, further positioning WA to meet growing global demand for food and feed products.”

“The program will help the State realise our long-term potential as a significant exporter of premium, safe and sustainable processed food. This is yet another example of how the WA Government’s Royalties for Regions continues to build a stronger economy that attracts investment and creates jobs for regional WA.”

The office will act as a shop-front to facilitate investment opportunities and co-ordination across government agencies, while also helping local agriculture and food businesses to become investment ready and link them with potential investors. The $20 million WA Open for Business program is part of the $350 million Royalties for Regions ‘Seizing the Opportunity Agriculture’ initiative.

Bob Fisher, a respected former Agent General for WA, will chair the WA Open for Business steering group. Mr Fisher spent more than a decade at the Australian Trade Commission and has held senior roles in the WA public service over several decades.

Agriculture and Food Minister Mark Lewis said the program complemented other Seizing the Opportunity Agriculture projects including the $6 million Asian Market Success program, $4.5 million Food Industry Innovation project and the $22.1 million Agricultural Sciences Research and Development Fund.

“Western Australia is now at a point in time where international investors are keen to support the growth of our agricultural and food businesses,” Mr Lewis said. “We must look to secure our State’s future by continuing to identify opportunities for growth that will provide long-term social and economic benefits for all West Australians.”

In the next few months, the office will be working with key agribusiness leaders and stakeholders to kick-start the program.

For more information about The WA Open for Business program and ‘Seizing the Opportunity Agriculture’, please click: