Turning major investment into lasting Territory benefits

The Territory’s next wave of major investment must deliver lasting benefits across our economy.

Today’s NT News coverage of INPEX's proposed Bonaparte carbon capture and storage project and Minister Gerard Maley MLA’s participation in the Energy Nation Forum in Sydney highlights the scale of the Territory’s opportunity.

DMBG welcomes Minister Maley taking the Territory’s case directly to national industry leaders and policymakers. Ensuring the Beetaloo’s potential, and the infrastructure needed to realise it, is understood nationally is important for our economic future.

These opportunities extend across construction, transport, logistics, engineering, training, accommodation and professional services, as well as the new industries that reliable energy and shared infrastructure could support.

Realising those opportunities requires preparation now. DMBG’s Beetaloo Development Outlook examines what the Territory needs to do over the next decade to prepare for potential development and translate that investment into lasting economic benefits.

Territory businesses are prepared to invest and take commercial risks, but their capacity to carry prolonged uncertainty is finite. They need confidence that the infrastructure, approvals and policy settings required for development will be in place.

Governments have a practical role to play: accelerating approval decisions, removing unnecessary red and green tape, and coordinating investment in essential infrastructure. Rigorous environmental assessment can be delivered through clear requirements, coordinated processes and firm decision-making timeframes.

Where high upfront costs prevent essential infrastructure from proceeding, governments should also consider targeted underwriting or co-investment, backed by a strong business case, appropriate risk sharing and demonstrable long-term public value.

That confidence will help Territory businesses commit capital, build capacity and employ people.

Preparation also means connecting training to emerging jobs and planning housing and services alongside workforce growth. Respectful partnerships with Traditional Owners and Aboriginal businesses must help shape how development proceeds and how benefits are shared.

The Territory has an important contribution to make to national energy security. DMBG’s priority is to ensure that development also strengthens the economy here at home.

Success should be measured by the lasting capability we build: stronger local businesses, meaningful employment and a more diverse and resilient Territory economy.