WESTERN Australians have gained a reputation for being hardworking, innovative and, not only commercially progressive, but hugely successful.
This has been aptly demonstrated by the resilience of the economy, which has weathered a battering from low commodity prices, land title issues, falling value of the dollar, the Asian crisis on its doorstep and, last but not least, global meltdown.
New, exciting communication techniques and self-stimulated technology are increasing the reach past WA’s borders into far distant markets and projects around the world.
Minister for Commerce and Trade Hendy Cowan said WA’s impressive economic growth was based on a well-established, export-oriented economy driven by the state’s nine regions.
Its primary producers are among the world’s most efficient, and its manufacturing and service sectors are reaching new levels of sophistication and competitiveness.
“More investors are discovering that the regions can offer major investment opportunities,” Mr Cowan said.
The regional areas, that generate the bulk of the state’s exports and underpin its dynamic economy, offer exciting investment and development openings for the future.
Rated one of the world’s most stimulating economic environments, WA registers a significantly higher level of growth than the Organisation for Economic Cooperation and Development average.
In 1996-97 the nation exported $19 billion worth of product offshore, of which the regions contributed $16.5 billion.
Private investment has been increasing at an annual rate of 10 per cent since 1984-85, with 60 per cent of this focused on mining in regional areas.
Each of the regional centres has its own distinctive character, and all offer a comprehensive range of services to support capital inflows and industry development.
While traditional resource and agricultural industries are expected to continue to perform strongly, service and downstream processing industries are expected to grow and play an increasingly important role in the future development of regional WA.
