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Business bulletin - 19 November 2015
Economic boost in the pipeline
Local Territory businesses are set to benefit from construction of the North East Gas Interconnector (NEGI) Pipeline.
Jemena Northern Gas Pipeline Pty Ltd will construct and operate the NEGI pipeline. It will run for 622kms between Tennant Creek in the Northern Territory and Mount Isa in Queensland and cost $800 million to construct.
Construction of the pipeline will generate investment, regional infrastructure and deliver more than 900 jobs, 600 of which for locals, worth $112 million in contacts for local businesses.
Territory business are encouraged to register with the Industry Capability Network NT. The Department of Business will work closely with NT organisations and industry associations and support local business win work.
Jemena will also work with communities and businesses along the proposed route for the entire duration of the project to ensure the delivery and maintenance of the pipeline. They will be investing in training programs and apprenticeships to ensure remote communities benefit from NEGI in the long term.
The pipeline expected to be completed by 2018.
NT regional engagement
Senior officials from four of the Northern Territory's key trading countries in South East Asia have gathered in Darwin to progress the collective interests of the region.
The representatives of BIMP-EAGA (Brunei Darussalam-Indonesia-Malaysia-The Philippines East ASEAN Growth Area) yesterday kicked off three days of discussions and activities.
Talks will centre on the NT's engagement with the group, as well as the upcoming BIMP-EAGA Ministerial Meeting in Malaysia in December, and the potential for Darwin to host another gathering in April 2016.
BIMP-EAGA was formed in 1994 with the aim of addressing socioeconomic development issues in each country, and the Northern Territory is recognised as a development partner with observer status.
Leading Asian economies and the NT's major trading partners Japan and China also have involvement with the BIMP-EAGA group.
Trade opportunities in the north
The Northern Territory has made its mark on the international stage this week, seeking investment and new trade opportunities at two major business events in Indonesia.
Representatives from the Department of Business attended the Indonesian Australian Business Conference to meet with leaders from both sides of the business relationship.
The conference was followed by the Indonesian Australia Business Week (IABW) with over 200 Australian businesses attending to pursue trade, education and investment ties.
Chief Executive of the Business Department, Michael Tennant, said both events provided a great opportunity for the NT Government and private sector leaders to enhance the Territory’s political and economic relationship with Indonesia.
"Indonesia is a core partner for the Territory, being our near neighbour and fourth largest export market and primary market for cattle.
"We will continue pressing the message that the Territory is the best place to do business in Australia and a natural gateway for our Indonesian friends for trade and investment."
Scholarships now available
Do you know someone undertaking Higher Education next year?
Applications are now open for the Northern Territory Government Study Grants Program, which includes three different scholarship categories.
Eligible Year 12 school leavers heading to university can apply for higher education scholarships worth $5,000 per year.
Forty scholarships will be awarded by Australian Tertiary Admission Rank (or equivalent) with the top 10 applicants receiving an additional $1,500 in the first year of study.
Certificate IV to Advanced Diploma students can apply for one of 15 Vocational Education and Training (VET) scholarships worth up to $5,000.
Strong consideration will be given to applicants studying in areas of skill shortages and labour demand in the Northern Territory.
Alice Springs students starting studies in a medical or health related field at university can apply for the Bernie Kilgariff Memorial Scholarship worth $3,000.
Applications for the study grant scholarships are open until Friday 11 March 2016.
Boosting Business in the Bush
Aspiring business Indigenous people across the Top End are taking advantage of workshops to develop local business ideas.
A series of Boosting Business in the Bush workshops have been rolling out across remote Top End communities this month, after kicking off in Central Australia earlier in the year.
The workshops help participants understand their motivation, skills and values through a SWOT (strength, weakness, opportunity and threats) analysis of their business concept.
Department of Business Northern Region Manager, Stephanie Hawkins, said participants have been very community minded to the needs of their family and local community.
"Many of the ideas have been local business concepts stemming from a gap in existing business or service delivery for the community.
"The workshops have been a great motivator for participants to move into business and start implementing their ideas which have included a local community market garden, a taxi / hire car service, after hour shops and commercial fishing."
The workshops are a collaboration between the Northern Territory Government Department of Business, 48.5 Consulting powered by Ambrose Business Solutions, and the Commonwealth Bank of Australia.
More than 90 people have so far taken advantage of the Boosting Business in the Bush workshops with further visit planned in Milingimbi, Ramingining and Lajamanu next week.
Last updated: 22 April 2016