APEC - Internationalization of industrial Science and Technology

Promotional Policies

Backing Australia's Ability was announced in January 2001. The $2.9 billion package over 5 years was the Government's response to the Innovation Summit Report and the Chief Scientist's paper.
To encourage additional research and development (R&D) in Australia by the pharmaceutical industry, the Government will provide $150 million over the five years from 2004-05. By providing an incentive for additional high quality R&D in Australia, the Government will help position Australia as an internationally competitive centre for the pharmaceutical industry.
The Government has announced a post-2005 assistance package for the automotive industry, which provides $4.2 billion over 10 years to the industry through the Automotive Competitiveness and Investment Scheme (ACIS). The package promotes production, investment, and R&D in new and innovative technologies and will foster an increasingly competitive and sustainable automotive industry in Australia.
The Government has committed an extra $379 million in 2006-07 to R&D Start, the Australian Research Council and Cooperative Research Centres programmes. This funding will facilitate forward planning for these programmes by providing funding certainty in advance of decisions on post Backing Australia's Ability directions in 2004. Through Backing Australia's Ability, the Government is making a substantial investment of $3 billion to assist Australia's innovation system.
A further $20m in 2003-04 to support the CSIRO Flagship Program where leading Australian scientists, research institutions and commercial companies undertake research to advance new industries, jobs, healthier and more productive lives and better use of environmental resources.
A balanced package of reforms in Australia’s International Taxation Arrangements to help Australian companies compete better overseas and encourage foreign companies to establish regional headquarters in Australia.