Developing a Growth Outlook for WA's Minerals and Energy Industry
Apr 7, 2009
GROWTH OUTLOOK STUDY REVEALS POSITIVE GROWTH TRAJECTORY TO 2020
For the Summary of the Report Click Here.
Substantial growth in Western Australia is projected to return in the medium to long term, according to a Study to be released by the Chamber of Minerals and Energy of Western Australia (CME).
The joint industry-government Study commissioned by CME to provide an integrated view of industry and government development plans for the minerals and energy sector. It creates an outlook for growth in the State, focussing on the key growth enablers of water, people and energy.
"The Study develops scenarios rather than forecasts but the underlying message is clear - the State's growth trajectory out to 2020 will be positive," said CME Chief Executive Mr Reg Howard-Smith.
"Results of the Study suggest the current financial crisis will cause a decline in general demand over the next few years, followed by a recovery period with rapid growth set to resume in the early part of the next decade," Mr Howard-Smith said.
"The unprecedented growth experienced by Western Australia up until late 2008 resulted in increased pressure on many aspects of the State such as labour, water, energy, civil infrastructure and housing.
"The current economic climate provides the time required to plan and prepare for the challenges of the next wave of growth.
"It is essential that this time is used effectively to improve management of growth, better infrastructure planning, coordination and delivery, and workforce planning.
"The greatest threat to sustained development in Western Australia is the absence of a vision for growth.
"Consideration should be given to a vision for State and regional WA planning, investment in people, land and water management and energy security, all of which are key inputs into the economic prosperity of the State.
It is also vital the Government policy settings facilitate development and remove uncertainty, particularly in the areas of approvals, emissions trading, taxation revenue, land access and protectionism," Mr Howard-Smith said.
