The New South Wales government has set up a new entity that will act as a “one-stop-shop” for the private sector, Premier Gladys Berejiklian announced on Tuesday.
The body, Investment NSW, will partner with key areas of the state government to “aggressively” target international and local businesses and achieve the best possible investment outcomes for NSW.
Berejiklian said NSW’s handling of COVID-19 and its recovering economy presents a great opportunity for investors, and the new entity would take advantage of that to attract billions of dollars into the state.
“Investment NSW will be a ‘one-stop-shop’ for the private sector, allowing NSW to target new jobs and lure Australian and global investment, as well as tourists, to our state,” she said.
“The new initiative will become an important arm for the NSW economy, focusing on growing both jobs and investment in the state.”
Earlier this year the NSW government launched a research and development action plan, with the aim of accelerating R&D in the state and encouraging businesses and researchers to solve key government challenges.
Berejiklian on Tuesday said Investment NSW would incorporate a new section, R&D NSW, following the launch of the NSW R&D Action Plan in January to “allow the government to work strategically and in a coordinated way on attracting investment to the state and in creating new jobs”.
The creation of the new body follows the government’s decision to open a stand-alone NSW Trade & Investment Office in Tokyo late last year, as part of a wider strategy to unlock international investment into NSW.