We need to diversify
Happy new year to all readers.
Your editor has asked me to pen my thoughts for the year ahead.
Firstly, we have to acknowledge we live in the greatest part of the State in the greatest country in the world and we continue to contribute to that reality — so much so that soon we will be contributing to more than 50 per cent of this nation’s export earnings.
However, we know things change and we must make sure we transition to a production (as compared to a construction) era.
Essentially, that means if we are to grow, we need to diversify.
That doesn’t mean getting out of resources, but it does mean innovating up the supply chain, using our intellectual property, skills, and services we’ve developed over the last decade.
It also means broadening our economic base into other industries like tourism, agriculture, health and education.
In these industries, it’s all still about Asia, China, India and Japan.
The new World Trade Organisation and Bi-Lateral Trade Agreements couldn’t have arrived at a better time to help us expand into these markets.
Both Federal and State Governments are on board with creating and implementing a vision for Northern Australia.
The ducks are lining up and the stars are shining on us, so there’s only one thing that can stop us.
My new year resolution is to make sure it’s not stopping us.