State Development Minister Clive Brown today reminded the Perth business community of the importance of Western Australia’s resources sector to both the State and national economies.
Speaking at the opening of the CPA Resources Convention 2003 this morning, the Minister said WA’s resources sector was restoring the State’s reputation as the engine-room of the national economy.
“Despite having only 10 per cent of the nation’s population, WA accounts for over 28 per cent of Australia’s exports, with more than 70 of these coming from the resources sector,” Mr Brown said.
“The resources sector generates tens of thousands of jobs throughout WA and over $1billion in royalty revenue each year for the State, which is equivalent to about half of the State’s health budget.
“These royalties assist the State to help provide vital infrastructure for all citizens such as schools, roads and hospitals and enable the Western Australian Government to govern without the need for tolls on our roads or pokies in our pubs.”
The Minister said the State was entering a new phase of development, with the economic contribution of the resources sector set to increase dramatically to make WA the resources hub of Australia.
“The $25billion LNG gas deal signed with China last year, the $5billion suite of industries on the Burrup Peninsula and the recent announcement of the $11billion Gorgon gas development means that WA is on the cusp of new era of prosperity,” Mr Brown said.
The Minister said the Gallop Government was establishing the framework to encourage and facilitate further investment in major resource projects.
“The Keating Review into the Project Development Approvals System identified ways to streamline the State’s approvals system and make WA a more attractive investment environment. The Government is currently working with the industry reference group to determine the best way of implementing its findings,” Mr Brown said.
“Investors have been attracted to the Burrup by the State Government’s $137million infrastructure package, while $200million has invested in the Australian Marine Complex to establish a specialised fabrication facility to provide local support for the State’s oil and gas industries.
“There is a lot to be excited about in WA’s resources sector and, with the State Government and industry working together, we can create new opportunities that will enable the State to continue to shine as the engine-room of the national economy.”
Minister's office: 9222 9699