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NEWS: Property Investing and Real Estate In Australia

Northern Territory attractive to foreign investment

Date: 28/02/2012

Property investors trying to decide where to devote their resources in Australia may be intrigued by positive news from the Northern Territory, which could be attracting foreign investment.

A global survey of mining companies released yesterday (February 28) ranked the state as the top jurisdiction in Australia for mining exploration and development.

The survey collected responses from over 800 companies about the exploration attractiveness of 93 worldwide areas.

Placing 11th on the Canadian-based Fraser Institute survey, the state scored 81.5 out of 100 on the index – the result of a proactive approach to the industry, according to minister for resources Kon Vatskalis.

He said: “We are leading the nation when it comes to attracting international foreign investment and this result provides further evidence of the success of our Bringing Forward Discovery initiative.”

The announcement comes on the heels of a large collection of publications regarding the encouraging economic environment of the Northern Territory.

Health, education and infrastructure have all received state government funding in support of – and preparation for – a burgeoning economy.

Large projects continue to roll in, including the lucrative Ichthys LNG Project and the Marine Supply Base.

Additionally, state treasurer Delia Lawrie recently boasted the second lowest unemployment rate in Australia, at 4.2 per cent.

Ms Lawrie, who is also minister for trade and minister for Asian relations, also announced beneficial links to the growing Philippines economy.

She said: “In this, the Asian century, the Territory stands poised to reap the rewards of our strategic position, business-friendly economy and resource wealth.”

The various departments seem to be putting in the work required to capitalise on the mining opportunities – it may be a good time to enter the market.

Mr Vatskalis seems confident in the future, stating: “The Territory government is committed to working with industry, stakeholders and international investors to ensure the on-going success of our resource sectors.”

Profile photo of Steve McKnight

By Steve McKnight

Steve McKnight, the founder of PropertyInvesting.com, is a respected property investing authority as well as Australia's #1 best-selling business author.

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