Infrastructure crucial in Asian century
Infrastructure will play a crucial role in ensuring that Australia makes the most out of the coming Asian century, according to the recently released White Paper.
Federal Minister for Transport and Infrastructure, Anthony Albanese, said that the country’s infrastructure assets and policies form a ‘core pillar’ of the plan to boost productivity growth and capitalise on the coming decades.
“Today’s White Paper reinforces the importance of a national framework for developing, financing and maintaining nationally significant infrastructure. This will assist governments and the private sector to plan and prioritise infrastructure needs at least 20 years ahead,” Mr Albanese said.
The White Paper emphasises that well-planned and prioritised infrastructure investment will support Australia’s growing trade and investment with the region as well as improving productivity and the efficient movement of goods and people—both domestically and internationally.
Mr Albanese cited the growing spending on infrastructure, reforming the national regulatory framework and the ongoing Nation Building Program as key planks in setting the Australian economy on course to make the most out of the coming century.