Member for Mining and Pastoral Region Jacqui Boydell has emphasised the importance of foreign investment as a means to unlock the untapped potential of the North West’s agriculture sector at the 2016 EASTxWEST Forum in Shenzhen, China.
The EASTxWEST Forum is a biennial event that was established by the Local Governments of Australia’s North West to foster regional prosperity.
Ms Boydell said the forum was a wonderful occasion to explore and showcase some of the exciting and untapped opportunities Western Australia’s North West has to offer potential investors.
“Economic diversification will be vital for the future of the Pilbara’s economy, because any region that relies too heavily on a single industry will inevitably find itself in a position where it is highly vulnerable to external economic fluctuations,” Ms Boydell said.
“By broadening the Pilbara’s economic base and transitioning away from its reliance on the resources and energy sector, we can improve the region’s social and economic sustainability.”
Ms Boydell said Australia had high hopes for the agriculture as a future pillar of the state’s economy, but to turn these hopes into a reality, the sector would require significant capital investment.
“Foreign investment is the key to a dynamic agricultural sector and economic prosperity in WA’s North West,” Ms Boydell said.
“The Pilbara region and the North West is compelling as an investment destination for a number of reasons including its geographical advantage in its proximity to markets, landmass and significant natural resources, and the State’s existing reputation as a producer of safe, reliable and quality food.
“To unlock these significant opportunities and develop our agriculture sector we must do more to facilitate inward capital rather than hamper it.”