The Northern Territory has a multitude of projects in the ‘waiting room’ for a range of reasons.
Certainly there are quite a number of mining projects seeking investment, which has become all the more difficult due to the COVID-19 pandemic. Having said that, investors like certainty and when you have projects that are waiting on various approvals they are reluctant to commit. The Government’s announcement of a ‘rebound’ internal infrastructure to reduce red tape has been well received by business associations, as the aim is to encourage ‘shovel ready’ projects.
This is an important message to be sending to the broader business environment about doing business in the NT. I don’t have enough digits to count the number of times I have heard officials of all stripes use the expression; “We are open for business!” The rhetoric is there but the reality is how we are perceived through our actions.
There is no doubt the NT’s recovery is going to come from the private sector and there is no more industry likely to contribute to our economy than onshore oil & gas. As opposed to offshore, the royalties generated come directly to the NT Government. This is not to mention the work and jobs created in the process. The rewards are high but so too is the investment from the companies involved, and certainty is paramount. If it’s been deemed safe and commitments have been given, we need to send the right message – We ARE open for business!
Chief Executive Officer
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