Investor focus on Far North

INVESTORS from throughout the world are focused on Northern Australia, in particular Cairns, at the second Northern Australian Investment Forum.

The forum is being staged for the second time after the inaugural event in Darwin two years ago.

If Darwin’s success is anything to go by then the spin-offs could be lucrative for Cairns.

Federal Trade Minister Steve Ciobo told participants that the Darwin forum had resulted in significant developments in the Port of Darwin as a direct result of foreign investment, including refrigerated container capacity increasing significantly in two years since Landbridge bought the lease.

Also under consideration is a cruise ship terminal expansion and a $250 million luxury hotel.

Several Far Northern investment opportunities, notably the Mandindingalbay Yidinji Eco cultural tourism project at Yarrabah and Fitzroy Island Resort, have been highlighted. The resort is drawing interest from Singapore.

The participants will note construction is underway on three of the GA Group’s Crystalbrook Collection hotels in the city’s CBD, promising signs for the Aspial high rise and the $650m KUR-World ecoresort projects plus the start of direct Chinese flights next month.

But they are not being told what projects in the region are being funded by the $5 billion Northern Australian Infrastructure Facility, apart from the Kidston solar power scheme hundreds of kilometres south-west of the city.

The lack of tangible progress by NAIF is frustrating everyone in the community from business and community leaders through to average taxpayers. Nick Dalton Deputy editor