Australia Report 2011 highlights Australia’s business and industry strengths
24 August 2011
Australia’s harsh climate has created the opportunity to develop new technologies to manage water, preserve scarce energy supplies and combat climate change, according to a new report.
The ADC Forum (previously the Australian Davos Connection) and KPMG have released their Australia Report 2011, which highlights the opportunities and risks facing Australia from a business, environmental and demographic perspective.
The report notes Australia’s stable political and regulatory systems which provide a platform for investment and innovation – a competitive advantage that has yet to be fully exploited.
The risks facing Australia are similar to those faced by other countries, yet some of those risks can propel positive policy responses or encourage innovation. For example, Australia’s growing world reputation in clean technology, water management and solar has been in part driven by the country’s extreme climate and the need to respond to environmental change.
Australia’s current level of national prosperity has also been sustained by continued demand from major trading partners, particularly from Asia. The report explains how further investment in infrastructure and decisive business reform will enable Australia to fully take advantage of its present position.
The report also notes Australia’s long track record in fostering commercial and academic research and development, boosting its scientific credentials globally.
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