Information about science based innovations, solid facts to support decision-making, performance and business development for VTT’s partners, customers and anyone interested in high technology and its applications.
A magazine on science, technology and business

What's going on in Australia?

Paula Bergqvist | 31.12.2014

​The rapid transformation occurring in Asia offers opportunities for Finnish companies and research organisations that have a base in Australia, says Gerald Thomson.

H.E. Ambassador Gerald Thomson, based at the Australian Embassy in Stockholm, visited VTT in August 2014. The Ambassador represents his country also in Finland, Estonia and Latvia. He sees many opportunities for increasing business and R&D collaboration between Australia and Finland.

There are about 50 Finnish companies which have branch offices in Australia, and also others that have a presence through their sales agencies. 

– These companies include Konecranes, Fiskars and Marimekko. He pinpoints particularly two companies, Metso and Outotec which are among the biggest suppliers of mining equipment in Australia. It is estimated that 60 percent of mining equipment in Australia is provided by six overseas companies and two of them are Finnish.

– The Australian economy is the world’s 12th largest.­ It is experiencing its 23rd year of uninterrupted growth and is forecast to have average annual real GDP growth of 2.8 per cent between 2013 to 2019.  Australia is increasingly tied to fast-growing economies in Asia, says the Ambassador.


 

Base close to North Asia

According to Ambassador Thomson, having a presence in Australia can provide a solid base for Nordic companies to build commercial relationships in Asia. It is predicted that Asia will account for 50% of global GDP by 2025.

– The business opportunities look very positive because of the large transformation that is occurring in Asia. This growth has been generated by a mining boom that has been driven by developments in China and other parts of Asia.  The Australian Government is quite optimistic about the continuing growth in this sector.

It has been estimated that by 2030 two thirds of the world’s middle class will live in Asia. This will generate opportunities in the education, health services and agribusiness sectors.  


 

Priority targets 

The Australian government has identified priority areas into which it is particularly interested in attracting foreign companies not only for investment purposes, but also for research and development. Those sectors include, resources and energy, infrastructure development, the digital economy, materials science and technology and medical science and technologies.

– Committed investment in the resources and energy sector totals about 268 billion Australian dollars. That is an amount roughly the size of the Finnish economy. The timing of some projects is uncertain, but it gives you an indication of the continuing growth that is to be expected in this sector over the medium term.

– There is a big push in the mining sector to achieve productivity gains. This opens opportunities for international companies, including companies in the ­Nordic region, to help Australian companies improve efficiencies across entire supply chains.

In the health sector, the Australian government has created a 20 billion dollar health-research fund, that can be leveraged by foreign companies. Australia has a proven track record on innovation in the medical sector.­

Australia is a country that is highly connected, has adopted quickly new digital technologies and is installing a new nationwide broadband network. Australia’s hunt for new and efficient IT solutions is generating good opportunities for creative foreign firms.

Renewable energy will be a focus for Australia over the medium term, including due to the Government’s commitment to reducing CO2 emissions by 2020. 

There are a lot of opportunities also in the field of advanced manufacturing, including in defence technologies. 

– Bioenergy or the bioeconomy in Australia is not as well-developed as in the Nordic region. However, the interest in this area in Australia is growing, assures Ambassador Thomson, who points out that there is a lot of available biomass in the country.


The buzz in Melbourne and Sydney

There is a lot happening in terms of infrastructure and urban development at the State government and city administration levels in Australia – creating opportunities in niche areas. 

– For example, Melbourne has projects on the go where sustainable-city technologies developed in Finland are relevant. In Sydney there are projects where scope exists for Finnish companies to find collaboration in the field of energy efficient buildings, tells Ambassador Thomson.


 

23 years of uninterrupted annual growth 

The Australian economy is: 

  • the world’s 12th largest 
  • in its 23rd year of uninterrupted annual growth
  • rated triple ‘A’ by all three global rating agencies
  • forecast to have average annual real GDP growth of 2.8 per cent between 2013 to 2019
  • increasingly tied to fast-growing economies in Asia

Source: Australian Trade Commission, Austrade​


 

 

 

Impulsehttp://www.vttresearch.com/ImpulseImpulse
Risk management in an increasingly complex worldhttp://www.vttresearch.com/Impulse/Pages/Risk-management-in-an-increasingly-complex-world.aspxRisk management in an increasingly complex world
Impulse 1/2014http://www.vttresearch.com/Impulse/Pages/Impulse-1-2014.aspxImpulse 1/2014
Business angel speaks out: Growth from the international arenahttp://www.vttresearch.com/Impulse/Pages/Business-angel-speaks-out-Growth-from-the-international-arena.aspxBusiness angel speaks out: Growth from the international arena
Challenges conceal opportunitieshttp://www.vttresearch.com/Impulse/Pages/Challenges-conceal-opportunities.aspxChallenges conceal opportunities
Cyber security requires more than just technological competenceshttp://www.vttresearch.com/Impulse/Pages/Cyber-security-requires-more-than-just-technological-competences.aspxCyber security requires more than just technological competences
Defence Forces seek a head starthttp://www.vttresearch.com/Impulse/Pages/Defence-Forces-seek-a-head-start.aspxDefence Forces seek a head start
Health benefits and efficiency without sacrificing food qualityhttp://www.vttresearch.com/Impulse/Pages/Health-benefits-and-efficiency-without-sacrificing-food-quality.aspxHealth benefits and efficiency without sacrificing food quality
VTT Impulsehttp://www.vttresearch.com/Impulse/Pages/MainPage.aspxVTT Impulse
Jari Gustafsson: Old and new workhorses as recession beatershttp://www.vttresearch.com/Impulse/Pages/Old-and-new-workhorses-as-recession-beaters.aspxJari Gustafsson: Old and new workhorses as recession beaters
The creative force of change managementhttp://www.vttresearch.com/Impulse/Pages/The-creative-force-of-change-management.aspxThe creative force of change management
Automation gives packages wingshttp://www.vttresearch.com/Impulse/Pages/Automation-gives-packages-wings.aspxAutomation gives packages wings
Modelling and simulation facilitateshttp://www.vttresearch.com/Impulse/Pages/Modelling-and-simulation-facilitates.aspxModelling and simulation facilitates
Impulse 2/2017http://www.vttresearch.com/Impulse/Pages/Impulse-2-2017.aspxImpulse 2/2017
Impulse 1/2015http://www.vttresearch.com/Impulse/Pages/Impulse-1-2015.aspxImpulse 1/2015
Impulse 2/2014http://www.vttresearch.com/Impulse/Pages/Impulse-2-2014.aspxImpulse 2/2014
Impulse 2/2016http://www.vttresearch.com/Impulse/Pages/Impulse-2-2016.aspxImpulse 2/2016
Impulse 1/2016http://www.vttresearch.com/Impulse/Pages/Impulse-1-2016.aspxImpulse 1/2016
Impulse 2/2015http://www.vttresearch.com/Impulse/Pages/Impulse-2-2015.aspxImpulse 2/2015
Impulse 1/2017http://www.vttresearch.com/Impulse/Pages/Impulse-1-2017.aspxImpulse 1/2017
Before information gets lost in numbershttp://www.vttresearch.com/Impulse/Pages/Before-information-gets-lost-in-numbers.aspxBefore information gets lost in numbers
Petri Kalliokoski: Artificial intelligence moves from words to deedshttp://www.vttresearch.com/Impulse/Pages/Petri-Kalliokoski-Artificial-intelligence-moves-from-words-to-deeds.aspxPetri Kalliokoski: Artificial intelligence moves from words to deeds
Ambassadors of service-mindednesshttp://www.vttresearch.com/Impulse/Pages/Ambassadors-of-service-mindedness.aspxAmbassadors of service-mindedness
Brazil paves the way for bioenergyhttp://www.vttresearch.com/Impulse/Pages/Brazil-paves-the-way-for-bioenergy.aspxBrazil paves the way for bioenergy
The rise of robotic carshttp://www.vttresearch.com/Impulse/Pages/The-rise-of-robotic-cars.aspxThe rise of robotic cars
Demand for energy storage is growing rapidlyhttp://www.vttresearch.com/Impulse/Pages/Demand-for-energy-storage-is-growing-rapidly.aspxDemand for energy storage is growing rapidly
What's going on in Australia?http://www.vttresearch.com/Impulse/Pages/Whats-going-on-in-Australia.aspxWhat's going on in Australia?
Looking through their eyeshttp://www.vttresearch.com/Impulse/Pages/Looking-through-their-eyes.aspxLooking through their eyes
Maintenance support for astronautshttp://www.vttresearch.com/Impulse/Pages/Maintenance-support-for-astronauts.aspxMaintenance support for astronauts
Cell screening leads to new cancer treatmentshttp://www.vttresearch.com/Impulse/Pages/Cell-screening-leads-to-new-cancer-treatments.aspxCell screening leads to new cancer treatments
Same old routine for the next 100 yearshttp://www.vttresearch.com/Impulse/Pages/Same-old-routine-for-the-next-100-years.aspxSame old routine for the next 100 years
Food in transitionhttp://www.vttresearch.com/Impulse/Pages/Food-in-transition.aspxFood in transition
By measuring you can improvehttp://www.vttresearch.com/Impulse/Pages/By-measuring-you-can-improve.aspxBy measuring you can improve
All sights on generationhttp://www.vttresearch.com/Impulse/Pages/All-sights-on-generation.aspxAll sights on generation
Better beer based on long-term researchhttp://www.vttresearch.com/Impulse/Pages/Better-beer-based-on-long-term-research.aspxBetter beer based on long-term research
Comfy but energy efficient homeshttp://www.vttresearch.com/Impulse/Pages/Comfy-but-energy-efficient-homes.aspxComfy but energy efficient homes
Designers needed in printed technologyhttp://www.vttresearch.com/Impulse/Pages/Designers-needed-in-printed-technology.aspxDesigners needed in printed technology
Finnish expertise for solving global problemshttp://www.vttresearch.com/Impulse/Pages/Finnish-expertise-for-solving-global-problems.aspxFinnish expertise for solving global problems
From ideas to major innovationshttp://www.vttresearch.com/Impulse/Pages/From-drawing-board-to-major-innovation.aspxFrom ideas to major innovations
Intelligence for machineshttp://www.vttresearch.com/Impulse/Pages/Intelligence-for-machines.aspxIntelligence for machines
It is the duty of entrepreneurs to seek growthhttp://www.vttresearch.com/Impulse/Pages/It-is-the-duty-of-entrepreneurs-to-seek-growth.aspxIt is the duty of entrepreneurs to seek growth
The creators of the future get down to businesshttp://www.vttresearch.com/Impulse/Pages/The-creators-of-the-future-get-down-to-business.aspxThe creators of the future get down to business
World in 2030 - answers to tomorrow’s questionshttp://www.vttresearch.com/Impulse/Pages/World-in-2030-answers-to-tomorrows-questions.aspxWorld in 2030 - answers to tomorrow’s questions
New power for the electronics industryhttp://www.vttresearch.com/Impulse/Pages/New-power-for-the-electronics-industry.aspxNew power for the electronics industry
Intelligent transport – a trump card for Finnish exportshttp://www.vttresearch.com/Impulse/Pages/Intelligent-transport-a-trump-card-for-Finnish-exports.aspxIntelligent transport – a trump card for Finnish exports
Advancing cyber security on several frontshttp://www.vttresearch.com/Impulse/Pages/Advancing-cyber-security-on-several-fronts.aspxAdvancing cyber security on several fronts
Salofa creates rapid tests for monitoring health and the environmenthttp://www.vttresearch.com/Impulse/Pages/Salofa-creates-rapid-tests-for-monitoring-health-and-the-environment.aspxSalofa creates rapid tests for monitoring health and the environment
Finland is good investmenthttp://www.vttresearch.com/Impulse/Pages/Finland-is-good-investment.aspxFinland is good investment
The perfect pilot environment for Arctic solutionshttp://www.vttresearch.com/Impulse/Pages/The-perfect-pilot-environment-for-Arctic-solutions.aspxThe perfect pilot environment for Arctic solutions
Pilot plants forge innovative ideas into business activitieshttp://www.vttresearch.com/Impulse/Pages/Pilot-plants-forge-innovative-ideas-into-business-activities.aspxPilot plants forge innovative ideas into business activities

CONTACT US

P.O. Box 1000, FI-02044 VTT, Finland
Tel. exchange +358 20 722 111
Opening hours Mon - Fri 8:00 - 16:30,
UTC +2 time zone

CUSTOMER SERVICE

info@vtt.fi
Tel. +358 20 722 7070
Opening hours Mon - Fri 9:00 - 11:00 and 12:00 - 15:00,
UTC +2 time zone