A report commissioned by the State Government has found the Western Australian agrifood sector has significant untapped potential for further growth, and is highly attractive to a wide range of investors both locally and globally.
Agriculture and Food Minister Mark Lewis said the Investment Ready: WA Agribusiness report provided information to WA-based businesses on seeking investment to help them grow.
"With an estimated $60 billion in assets and mostly productive land, the sector does not lack capital, but does require further investment to double its value by 2025," Mr Lewis said.
"The report predicts that with a minimum of $10 billion in new capital investment, the Western Australian agrifood sector could achieve this level of growth.
"This investment is needed to help develop value chains and transform WA's raw materials into consumer-ready goods, and intensify production systems to meet the growing demand from the emerging middle-class populations of Asia."
Regional Development Minister Terry Redman said the Investment Ready: WA Agribusiness report, part of the $6 million Royalties for Regions-funded Asian Market Success project, identified options for WA agrifood businesses to attract additional capital to grow and prosper.
"This is an important piece of work to encourage and enable our agriculture and food businesses to take full advantage of opportunities for growth," Mr Redman said.
"The report provides key insights into how investors make decisions on which agribusinesses to invest in, and how they evaluate potential investment opportunities.
"Strategic investors, in particular, can bring a significant competitive advantage to a business such as greater access to global supply chains, increased value-added activities in WA, leading skills and technology, or new production or processing capacity."
The Asian Market Success project is one of the 13 approved programs under the $350m Royalties for Regions Seizing the Opportunity Agriculture initiative
Exports of WA agrifood products in 2014-15 were valued at $7.79 billion
There are big things happening in regional WA. Find out how Royalties for Regions is transforming your regional community at https://rfrmap.drd.wa.gov.au
Agriculture and Food Minister's office - 6552 6400
Regional Development Minister's office - 6552 6700