The Northern Territory Government has released its blueprint into the economic development of the territory. The Framework focuses on agribusiness, tourism, energy and minerals, and international education and training. These areas have huge potential for growth due to the geographic proximity of the North to Asia, underdeveloped land, a young population and strong governance.
The Framework recognised that the market within five hours north of the Port of Darwin is host to 400 million people compared to the population of Australia that is host to 24 million. The Government is thus seeking substantial private investment in these core industries to boost the economic growth of the Northern Territory with the support of the Federal Government and receptive Asian markets.
The Framework can be found here.
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