Federal Government introduces tourism investment facilitation service

With the aim of streamlining new tourism projects and cutting delays Federal Tourism Minister Martin Ferguson has announced the introduction of a new tourism investment facilitation service.

Minister Ferguson suggested that significant new tourism projects will benefit from the process stating "increasing tourism investment is a key priority of the Tourism 2020 strategy. Investment in new product is needed if we are to realise our potential of increasing annual overnight visitor expenditure up to $140 billion by 2020.

"Tourism investment projects often require multiple approvals from different agencies in different jurisdictions because of their multiple-use nature.

"As part of Tourism 2020, Tourism Ministers have committed to delivering better investment facilitation services and a simpler, more streamlined regulatory environment.

"One of the best ways to encourage investment is to actively facilitate projects through the approval process.

"The Tourism Major Project Facilitation (TMPF) Service will case manage projects through the Australian Government approvals process saving investors time and money by streamlining interactions with Australian Government approval agencies."

Under the TMPF significant tourism projects would be granted a case manager to:

• Identify the range of Australian Government approvals required;
• Facilitate introductions and meetings with Australian Government approving agencies;
• Provide support and expertise on government programs and processes;
• Assist investors to access relevant Australian Government support programs; and
• Help broker solutions to problems that arise during the course of obtaining approvals.

Minister Ferguson concluded "this service will offer investors a national tourism investment facilitation service by linking with existing services offered by state and territory governments.

"This will ensure tourism projects that require approvals from both Commonwealth and state approving bodies can access an integrated investment facilitation service to minimise delays.

"Tourism is now a national investment priority. The TMPF is one example of how the Australian Government is working with the States and Territories to make Australia a more attractive investment destination."

The facilitation service will be available to projects that have a capital value in excess of $50 million and that will make a significant contribution to economic growth, exports, employment and/or infrastructure developments.

For more information go to  www.ret.gov.au/tourism/policies/tmpf/Pages/index.aspx

Image: Sharks of Shipwreck Cove at the Melbourne Aquarium.