MEDIA project

Economic Development I Council of Mayors (SEQ)

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In 2013, Australia was the 11th largest recipient of Foreign Direct Investment (FDI) in the world. The major country specific factors influencing choices about trade and investment include macroeconomic features, political environment, natural and inherent characteristics and regulatory and policy settings.

Australia has several advantages including close proximity to Southeast Asia, its stable and deregulated financial system, a stable and effective political system, strong and stable domestic demand, effective internal security and a reliable, independent legal system.

Despite these advantages, the nation is ranked lower on the majority of global indices relating to investment attractiveness compared to countries such as Singapore, Hong Kong and New Zealand, implying scope for improvement.

In July 2013, the Council of Mayors (SEQ) commenced the Major Economic Development and Investment Attraction project to gain a better understanding of the impediments to foreign investment in SEQ. A report delivered by KPMG revealed a number of barriers impeding inbound investment into major employment-generating projects.

  1. Asian investors have a relatively low knowledge of SEQ and its investment opportunities
  2. Restrictive and costly planning and zoning regulations result in low rates of progression from application to construction
  3. Liquor licensing approvals often involve lengthy delays and onerous processes
  4. The Foreign Investment Review Board (FIRB) approval process can create a perception that Australia is not investor ‘friendly’
  5. The Significant Investor Visa process is administratively burdensome and carries low approval rates
  6. Restrictive and costly labour laws reduce the attractiveness of setting up commercial operators in the tourism industry
  7. Australia’s tax rates are higher than most countries in the Asia Pacific region.

The Council of Mayors (SEQ) continues to lobby the Federal Government and State Government to collaborate on improving inbound investment attraction and reducing barriers to investment across the region.

  • Publication

  • Investing in Queensland's Core Growth Region: 2015 Queensland State Election Advocacy Document.

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