Japanese multinationals commit to the Western Sydney Aerotropolis
06 Nov 2018
The New South Wales Government has signed two international investment agreements with two of Japan’s biggest multinationals to establish a presence in the Western Sydney Aerotropolis.
Mitsubishi Heavy Industries and the Sumitomo Mitsui Financial Group have signed separate memoranda of understanding (MoU) with the NSW Government and committed to be a significant part of the Aerotropolis.
The Western Sydney Aerotropolis project is a major infrastructure plan for Western Sydney centred on Sydney’s second airport. It will include residential and retail precincts, and a high-skill jobs hub across sectors including aerospace and defence, manufacturing, healthcare, freight and logistics, agribusiness, education and research.
‘It is so exciting that Mitsubishi Heavy Industries and the Sumitomo Mitsui Financial Group have decided to have such a large footprint in the Aerotropolis and we can’t wait to hear more about their plans,’ says NSW Premier Gladys Berejiklian.
‘It is not every day you get the chance to build a city from the ground up, but we know we are on the right track because, as we can see, international business confidence in the Aerotropolis is sky high.
‘The Western Sydney Aerotropolis will be the heart of the Western Sydney Parkland City where there will be 200,000 jobs, the best educational opportunities and the highest quality lifestyle you can imagine.
‘Federal, state and local governments are working together to make the Aerotropolis the most advanced city on earth and now we are seeing the biggest companies in the world come on this journey with us.’
Along with Premier Berejiklian, Austrade CEO Dr Stephanie Fahey participated in both MoU signing ceremonies, and reiterated that promoting investment and development of Western Sydney is a priority for Austrade.
Mitsubishi Heavy Industries is a global heavyweight in aircraft, space, defence, transport, energy, maritime, automotive, industrial machinery and infrastructure. Sumitomo Mitsui Financial Group has a network of global clients across 40 countries and Sumitomo Mitsui Banking Corporation is one of Japan’s biggest banks managing a balance sheet in the trillions of dollars – more than Australia’s economy.