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Asian boom supplies "boundless opportunities" for northern Australia development: Abbott

Xinhua, June 18, 2015 Adjust font size:

Asia's economic growth has positioned northern Australia for "boundless opportunities" in research and development, Australia's Prime Minister Tony Abbott said on Thursday.

After releasing the country's first white paper on developing northern Australia, Abbott said the region had the potential to become an "economic powerhouse" under the bold blueprint to expand the sparsely populated region over the next 20 years.

"The proximity to the fast-growing Asian and tropical regions means boundless opportunities where demand for Australian goods and services is reaching unprecedented levels," Abbott.

The white paper outlines the government plans to facilitate foreign private investment by spending 460 million U.S. dollars on roads, 145 million U.S. dollars on water infrastructure and 11.7 million U.S. dollars on positioning the north as a global leader in tropical health.

A day after signing a free trade agreement with China that will see more live animals exported, the government has committed funds to upgrading rail freight options, in addition to the 77 million U. S. dollars for improving cattle supply chains.

Northern Australia contains 40 percent of the country's land mass but less than 5 percent of the population.

"We will drive down the costs of operating in the north for business; making it a more attractive place to invest and work," Abbott said.

"By making the right regulations and infrastructure investments, we can encourage jobs and tackle the costs of living far from major cities."

Grand northern Australian development dreams are nearly as old as the nation itself and have repeatedly failed to materialize.

But the Abbott government believes that the rapid expansion of Southeast Asia and tropical regions across the world meant there was now agriculture, aquaculture, renewable energy, tropical medicine and tourism markets the north of the country could service.

Australia hopes it can attract billions of dollars of foreign investment in the north of the country if the government puts the right infrastructure and laws in place. Endi