Queensland To Accelerate Investment In Agriculture

Treasurer Curtis Pitt today announced that Queensland Investment Corporation, the Queensland Government's investment manager, is evaluating new opportunities and strategies to invest in the agriculture industry.

Mr Pitt, who this week attended the Northern Queensland Economic Summit in Cairns, said there were tremendous opportunities to further develop the State’s world class agricultural sector.

“The QIC agribusiness strategy is about growing the beef industry to meet new Asian demand,” Mr Pitt said.

“Meat exports are one of the Queensland economy’s great strengths.

“That’s why we’re keen to leverage further investment in agriculture to help grow the Queensland economy and generate more jobs.”

Mr Pitt said Asia was projected to account for 47 per cent of global beef exports by 2024 as its consumers seek high quality food - food that Queensland can supply.

“Queensland is perfectly positioned to meet the demands of the new middle class given our reputation for quality, the size of our industry and our geographic position close to the market,” he said.

“QIC's agribusiness strategy provides opportunities for Australian and overseas investors to buy into this growth story.”

Minister for Agriculture Bill Byrne said there was a bright future for Queensland beef exports.

“With strong global interest in quality beef, Queensland producers are well placed to meet the international demand for our products,” Mr Byrne said.

“This strategy would connect farmers to the end users by investing in the whole supply chain to improve integration and coordination.

“This is about boosting supply and increasing the ability to manage risks like drought by moving cattle around,” he said.

“It’s an opportunity that can accommodate hundreds of millions of dollars in new investment.

“Successfully executed, it will create more jobs for Queenslanders.”

Mr Pitt said the Northern Queensland Economic Summit was a unique chance to connect with institutional and strategic investors who want to invest in Queensland.

“Our pro-jobs, pro-growth policies along with our commitment to introducing no new fees, taxes or charges are giving businesses the incentive to invest and achieve even more growth,” he said.

“We highlighted to delegates that we have the initiatives to achieve even more export growth, particularly in areas such as agribusiness, tourism and renewable energy.”

Mr Pitt said Queensland’s open and competitive economy had all the right ingredients for even more growth.

“The State Accounts show the Queensland economy is growing faster than all the other Australian States and Territories, with growth of 1.3 per cent in the September quarter,” he said.

QIC is an ideal investment partner, with a strong history of investing in Queensland. Created in 1991 to manage the State's superannuation funds, QIC now has over $72 billion in funds under management for 90 clients.

More Articles

Important Changes to Vegetation Mapping

Updated maps are now available to download. The new maps include the most recent Queensland Herbarium scientific updates to the Regulated Vegetation Management Map, regional ecosystems, wetland, high-value regrowth and essential habitat mapping. These change...

Read More

Testamentary Trust

What is a Testamentary Trust [TT]? TT is a trust created under a person’s will which does not come into effect until after their death. TT has similar characteristics to a discretionary or family trust except the provisions of the trust are set out in th...

Read More

Access regulations for the Petroleum Act

Petroleum Act will come into force on 1 January 2021 The implementation of land access regulations for the Petroleum Act must be the catalyst for requiring the mining sector to operate in a similar manner, this is the position the Northern Territory Cattlemen&...

Read More

Emanate Legal's Barry Taylor comments on landowner rights during trespass

Townsville, Queensland: Queensland lawyer/solicitor Barry Taylor, Foundation Director of Emanate Legal, recently commented on the rights of farming landowners and leaseholders in response to a number of trespass incidents on primary producing properties. &ldqu...

Read More

Introductory Guide to Resumption and Compulsory Acquisition in Queensland

Introductory Guide to Resumption and Compulsory Acquisition in Queensland Written by Emanate Legal’s Barry Taylor (Lawyer/Solicitor) & Venesa Gleeson (Lawyer/Solicitor) Introduction In Queensland, the State or Local Governments can apply to take a...

Read More

Vegetation clearing management services updated

Barry Taylor, Townsville solicitor and foundation member of Emanate Legal, recently updated the information on the Services pages relating to Clearing Management.The updated page outlines the changes made by Queensland in relation to the laws for clearing vege...

Read More

Restructuring family assets for succession services updated

Barry Taylor, Townsville solicitor and foundation member of Emanate Legal, recently updated the information on the Services pages relating to Restructure of Family Assets.The updated services page contains information pertinent to primary producing families an...

Read More

Queensland grazier fined $450k for illegal land clearing

A Queensland grazier, whose bid to bulldoze native woodlands has the support of Federal Government MPs, has been hit with one of the state's heaviest penalties for illegal land clearing. Scott Harris and his company were fined $450,000 in the Cairns Magistrate...

Read More