Framing the Future

Prosperous economy

The government is focused on creating an economy that:

  • creates wealth and jobs
  • is open, competitive and innovative
  • is built on exports and the needs of our trading partners
  • captures the ideas, energy and opportunities across the Territory
  • lands new local, national and international investment.

Read Our Plan for Economic Development (1.6 mb)

Read the Economic Development Strategy (1.7 mb).

Our objectives:

Priorities and how we will make it happen

Objective 1:

An economy built on strong trade, cultural and tourism relationships and that leverages new investment to improve food, energy and resource security for the Territory and our partners.

  1. Advance the development of Northern Australia: lead the development of Northern Australia, working with the Queensland, Western Australian and Australian governments and other organisations to fast track key projects and policies.
  2. Strengthen the Territory’s role as the gateway between Australia and Asia: develop the Northern Territory as an investment destination and a supplier of quality goods and services.

Objective 2:

An economy that unlocks the potential of our regions encourages new investments and the growth of existing businesses in the pastoral, resources, energy, fisheries, agriculture, parks, tourism, arts and culture and construction sectors.

  1. Leverage land and water resources: grow pastoral, fisheries and agricultural businesses.
  2. Build our regions: ensure investment in the mining and petroleum sectors benefits the host regions and communities.
  3. Develop the Territory’s tourism potential: promote and enhance the Territory’s visitor experiences and tourism infrastructure, including in our parks and reserves.
  4. Increase the capacity and capability of Aboriginal Territorians and businesses: improve access to training, development, management and commercialisation of Aboriginal knowledge.

Objective 3:

An economy that is strengthened by new private and public infrastructure projects.

  1. ‘Territory building’ infrastructure: develop key economic infrastructure in areas such as ports, energy, communications, transport and aviation.
  2. Major project attraction and facilitation: work with our partners to deliver major projects in the Territory.
  3. Deliver critical infrastructure: plan, and facilitate the construction and maintenance of public infrastructure.

Objective 4:

An economy that is built on strong local businesses and a skilled and flexible workforce.

  1. Keep the cost of business competitive: advocate nationally and work locally to reduce pressures on business and industry.
  2. Improve business productivity and competitiveness: promote and support innovation, collaboration and capacity building.
  3. Grow our world class education and training institutions: work with key stakeholders to develop the Territory’s capacity and reputation in local and international markets.
  4. Improve the productivity of our workforce: support ongoing training and skills development of Territorians.
  5. Support workforce attraction and retention: ensure access to quality services and promote the lifestyle opportunities of the Territory.

Objective 5:

An economy that is underpinned by an investment focused policy and regulatory framework.

  1. Encourage investment, development and improve competition, minimise delays and administrative requirements on business, industry and the community.
  2. Support efficient investment decision-making: provide regional information, economic intelligence, data sets and economic profiles to investors, business, industry and the community.
  3. Package and promote investment opportunities: work with our partners to develop opportunities and secure new investment.

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Last updated: 26 June 2017