Fleming: Aust should look at state-owned businesses

Business

AUSTRALIAN investors should be doing business in the transport and communications sectors, Bank South Pacific chief executive officer Robin Fleming says.
Speaking at the 35th Australia-PNG Forum and Trade Expo on Monday, Fleming acknowledged the significant body of work undertaken in the country by the Australian government and said (Australian) investors needed to look at State-owned businesses to identify investment opportunities and bring their expertise to businesses that had good growth potential.
Fleming said the private sector needed to be better versed with what Australian agencies were doing on the ground in order develop beneficial relationships.
He said a number of Australian companies had started work on large scale agriculture projects to start a transition from the over dependence of imported food products to be involved in growing the crops in the country.
“Agriculture has long been seen as potentially contributing to broader economic participation and also reducing the reliance on the mineral sector,” Flemming said.
However, while this is the case, Fleming said what could be equally beneficial to the country was more participation in the seasonal workers’ programme in Australia.