The Territory Labor Government is today announcing its strengthened strategy for winning private investment, turbo charging major projects and growing the NT economy.
Two new leaders – the Territory Investment Commissioner and Major Projects Commissioner - will be appointed. They will have a broad investment mandate and will become key links between industry and government. Each will report directly to the Chief Minister, and have the authority to make recommendations to Ministers and present to Cabinet.
They will each oversee focussed teams of about 10 specialist staff from Investment Territory, with other surge staff to pivot between the two teams.
The commissioners and their teams will build on the work Investment Territory has done over the past 18 months, and actively pursue the investment and business reform needed to achieve the NT Government's goal of a $40 billion economy by 2030.
The Territory Investment Commissioner will also oversee a new $5 million fund to partner with industry to find new investment opportunities in the Territory in target sectors such as advanced manufacturing, renewable energy and digital industries.
Investment attraction will have a single and accountable lead with a bolstered team. The Territory Investment Commissioner and their team will go to the market and win private investment for the Territory.
The Major Projects Commissioner will be the point of coordination for major projects and make it easier for businesses to navigate approvals and create Territory jobs. The Major Projects Commissioner will recommend additional legislative changes where necessary to make it easier to deliver projects, and will identify legislative powers required to support their role, if needed. The Major Projects Commissioner will oversee the creation and operation of sustainable development precincts, and will chair the newly formed Land Development Corporation Board.
Both commissioners will provide monthly progress reports to the Chief Minister and twice-yearly reports to Cabinet. An annual report card on the activities and deliverables of each role will be publicly released.
These roles are being created today. They will be advertised this week. They will be filled immediately with interim appointments to act from today.
