Ms CHARISHMA KALIYANDA (Liverpool) (15:24): My question is addressed to the Minister for Innovation, Science and Technology. Will the Minister update the House on how the Minns Labor Government's third budget sets New South Wales up to secure our place as a global hub for innovation and investment?
Mr ANOULACK CHANTHIVONG (Macquarie Fields—Minister for Better Regulation and Fair Trading, Minister for Industry and Trade, Minister for Innovation, Science and Technology, Minister for Building, and Minister for Corrections) (15:24): I thank the member for Liverpool for the question and for her keen interest in this important topic. In particular, she is interested in progressing business investment and tech innovation in and around Liverpool. Yesterday, along with the Premier, the Treasurer and the Minister for Planning and Public Spaces, I was very graciously hosted by Craig Scroggie from NEXTDC at the Artarmon data centre, where we made two significant announcements that secure this State's place as a global hub for innovation and investment. Those announcements have been developed in line with our Industry Policy, our Innovation Blueprint and our Trade and Investment Strategy, which chart a course to deliver greater growth, resilience and productivity for our State.
The first announcement was of the widely welcomed Investment Delivery Authority, which will accelerate approvals for major projects across a range of industries aligned with the Government's strategic priorities. Unlike those opposite, we have been genuinely engaging with businesses and listening to their concerns. We have heard that making major investments in New South Wales can be too complex and too time consuming. That is slowing our economic growth and productivity. The Government has listened, and it is acting. Modelled on the successful Housing Delivery Authority, the Investment Delivery Authority [IDA] will address those issues by cutting through red tape and unnecessary bureaucracy.
The authority will provide advice on how best to navigate the planning system, coordinate necessary infrastructure and fast‑track assessments. It is a centralised service to attract investment in New South Wales. That will make it easier for domestic and international businesses with projects worth over $1 billion to invest, build and create jobs in New South Wales. With an initial investment of $17.7 million, the IDA is expected to bring forward up to $50 billion of investment. Best of all, the people of New South Wales will not be forced to wait. The body will be developed this coming financial year. Importantly, the IDA will not be restricted to a specific industry or a particular sector. It will be focused on the major projects that can help tackle the most important issues facing our State while improving productivity and driving economic growth. That will turbocharge investment right across the New South Wales economy, ensuring that our State remains the best place to do business in the nation. [Extension of time]
I am pleased to advise the House that yesterday the Minns Government also announced nearly $80 million of new funding to deliver the Innovation Blueprint, which will cement New South Wales as the best place to innovate in the Southern Hemisphere.
The SPEAKER: I call the member for Oatley to order for the first time.
Mr ANOULACK CHANTHIVONG: The Innovation Blueprint funding will promote more global success stories like Afterpay, Atlassian and Canva in the years ahead through the following groundbreaking initiatives: $38.5 million to turbocharge Tech Central, Australia's largest technology and innovation hub; $20 million for emerging technology commercialisation to drive growth and productivity in key areas such as housing and energy; $6 million to extend the existing MVP (Minimum Viable Product) Ventures Program; $6 million to support manufacturing businesses to adopt innovative technologies; $4 million to promote housing construction innovation and technology; and $4 million to support tech founder diversity by providing training programs for female founders and our future tech leaders from Western Sydney and regional New South Wales. We know that innovation and great ideas are not Sydney centric; they exist in Western Sydney and across regional New South Wales. Take the words of Mr Daniel Hunter, CEO of Business NSW, who said:
This is a game-changing step forward for New South Wales.
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With a clear plan to streamline approvals and coordinate government agencies, the new Investment Delivery Authority is exactly what NSW needs to turn ambition into action.
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Coupled with the Innovation Blueprint and nearly $80 million in new funding, this initiative will help transform breakthrough ideas into global enterprises—fostering the next Atlassian or Canva right here in our backyard.
I thank the Premier and the Treasurer for their support in making New South Wales the innovation State, and I thank Minister Scully for his tireless work in creating the IDA. These are examples of the work of a Labor government committed to building a better New South Wales.
