- The Modern Manufacturing Strategy makes most of the food and beverage sector’s natural competitiveness
- Food Manufacturing identified as one of Australia’s six National Manufacturing Priorities
- The strategy will drive exports, boost jobs and revitalise its stagnant capital investment environment
ThD NewsDesk, Australia: The Australian government’s recent announcement of the Modern Manufacturing Strategy identifies food manufacturing as one of the country’s six National Manufacturing Priorities. This strategy is a key feature of the government’s ‘JobMaker Plan’ which will harness Australian manufacturing capabilities and build a pathway towards economic recovery and future resilience.
According to the Australian Food and Grocery Council, an elaborate government manufacturing strategy will drive exports, boost jobs and revitalise its stagnant capital investment environment.
According to the PM, approximately A$1.5bn (US$1.08bn) will be endued in support of this strategy over the span of four years, which would help foster a “stable and competitive business environment [for] manufacturing, which is critical to Australia’s economic future.”
The Modern Manufacturing Strategy was proclaimed by the Australian Prime Minister, Scott Morrison, as a part of the country’s JobMaker Plan within the 020-21 Federal Budget. This strategy is crucial to ‘rebuild the economy, create jobs and recover from the COVID-19 recession’, in addition to creating a ‘new era of Australian manufacturing’.
In a speech addressed to the public, the PM was quoted saying, “Food and beverage manufacturing [has been] one of the fastest-growing parts of our manufacturing sector in recent years and the largest employer in our manufacturing sector, [which is why it is a main] area of focus as part of this strategy. Australia’s status as a leading agricultural producer with a premium reputation for safe, clean produce gives us a real edge here, a vital edge.”
The speech received a nod of agreement, by the Australian food and beverage sector and Tanya Barden, the CEO of Australian Food and Grocery Council.
Barden further mentioned, “What this investment demonstrates is that the government knows that our sector is one with huge scale-up potential, particularly in export markets. [This strategy] is a strong acknowledgement that this sector will help get the economy back on track.”
Additionally, she stated, “The Modern Manufacturing Strategy makes the most of the food and beverage sector’s natural competitiveness, which arises from being able to source quality agricultural inputs and process them to global best safety and quality standards.”
Along with a focus on food and beverage, the other five National Manufacturing Priorities as identified by the Australian government are- Resources, Medical Products, Clean Energy and Recycling, Defence and Space.
Key Source: Food Navigator Asia