Sign In
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​


 

 

 

VTT Impulsehttps://www.vttresearch.com/ImpulseVTT Impulse
Health and wellbeinghttps://www.vttresearch.com/Impulse/Pages/Health-and-wellbeing.aspxHealth and wellbeing
Smart Citieshttps://www.vttresearch.com/Impulse/Pages/Smart-Cities.aspxSmart Cities
Digital societyhttps://www.vttresearch.com/Impulse/Pages/Digital-society.aspxDigital society
Business developmenthttps://www.vttresearch.com/Impulse/Pages/Business-development.aspxBusiness development
Bioeconomy and circular economyhttps://www.vttresearch.com/Impulse/Pages/Bioeconomy-and-circular-economy.aspxBioeconomy and circular economy
Finnish fuel cell technology aims for the worldhttps://www.vttresearch.com/Impulse/Pages/Finnish-fuel-cell-technology-aims-for-the-world.aspxFinnish fuel cell technology aims for the world
Road safety to a new level using 5Ghttps://www.vttresearch.com/Impulse/Pages/Road-safety-to-a-new-level-using-5G.aspxRoad safety to a new level using 5G
Telaketju is changing our understanding of textile recyclinghttps://www.vttresearch.com/Impulse/Pages/Telaketju-is-changing-our-understanding-of-textile-recycling.aspxTelaketju is changing our understanding of textile recycling
Towards carbon-neutral materialshttps://www.vttresearch.com/Impulse/Pages/Towards-carbon-neutral-materials.aspxTowards carbon-neutral materials
What and how will people eat in the future?https://www.vttresearch.com/Impulse/Pages/What-and-how-will-people-eat-in-the-future.aspxWhat and how will people eat in the future?
Recycling of critical metalshttps://www.vttresearch.com/Impulse/Pages/Recycling-of-critical-metals.aspxRecycling of critical metals
Online banking for stiff fingers and weak eyeshttps://www.vttresearch.com/Impulse/Pages/Online-banking-for-stiff-fingers-and-weak-eyes.aspxOnline banking for stiff fingers and weak eyes
The autonomous world is already herehttps://www.vttresearch.com/Impulse/Pages/The-autonomous-world-is-already-here.aspxThe autonomous world is already here
Cyber security modelled on the vaccination programmehttps://www.vttresearch.com/Impulse/Pages/Cyber-security-modelled-on-the-vaccination-programme.aspxCyber security modelled on the vaccination programme
Renewing industrial practices creates a new competitive edgehttps://www.vttresearch.com/Impulse/Pages/Renewing-industrial-practices-creates-a-new-competitive-edge.aspxRenewing industrial practices creates a new competitive edge
Smarter products and modules – produced more efficientlyhttps://www.vttresearch.com/Impulse/Pages/Smarter-products-and-modules-–-produced-more-efficiently.aspxSmarter products and modules – produced more efficiently
New materials developed from plantshttps://www.vttresearch.com/Impulse/Pages/New-materials-developed-from-plants.aspxNew materials developed from plants
A better world based on positive energyhttps://www.vttresearch.com/Impulse/Pages/A-better-world-based-on-positive-energy.aspxA better world based on positive energy
Advancing cyber security on several frontshttps://www.vttresearch.com/Impulse/Pages/Advancing-cyber-security-on-several-fronts.aspxAdvancing cyber security on several fronts
Are environmental claims believable?https://www.vttresearch.com/Impulse/Pages/Are-environmental-claims-believable.aspxAre environmental claims believable?
At the digital forefront of mininghttps://www.vttresearch.com/Impulse/Pages/At-the-digital-forefront-of-mining.aspxAt the digital forefront of mining
Before information gets lost in numbershttps://www.vttresearch.com/Impulse/Pages/Before-information-gets-lost-in-numbers.aspxBefore information gets lost in numbers
Business angel speaks out: Growth from the international arenahttps://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 opportunitieshttps://www.vttresearch.com/Impulse/Pages/Challenges-conceal-opportunities.aspxChallenges conceal opportunities
Comfy but energy efficient homeshttps://www.vttresearch.com/Impulse/Pages/Comfy-but-energy-efficient-homes.aspxComfy but energy efficient homes
Converting rags to design clotheshttps://www.vttresearch.com/Impulse/Pages/Converting-rags-to-design-clothes.aspxConverting rags to design clothes
Cyber security requires more than just technological competenceshttps://www.vttresearch.com/Impulse/Pages/Cyber-security-requires-more-than-just-technological-competences.aspxCyber security requires more than just technological competences
Designers needed in printed technologyhttps://www.vttresearch.com/Impulse/Pages/Designers-needed-in-printed-technology.aspxDesigners needed in printed technology
Tua Huomo: Energy production and use – smart choices have an impacthttps://www.vttresearch.com/Impulse/Pages/Energy-production-and-use–smart-choices-an-impact.aspxTua Huomo: Energy production and use – smart choices have an impact
Finland is good investmenthttps://www.vttresearch.com/Impulse/Pages/Finland-is-good-investment.aspxFinland is good investment
Finnish expertise for solving global problemshttps://www.vttresearch.com/Impulse/Pages/Finnish-expertise-for-solving-global-problems.aspxFinnish expertise for solving global problems
From a fishing port to a model district for smart energyhttps://www.vttresearch.com/Impulse/Pages/From-a-fishing-port-to-a-model-district-for-smart-energy.aspxFrom a fishing port to a model district for smart energy
Health benefits and efficiency without sacrificing food qualityhttps://www.vttresearch.com/Impulse/Pages/Health-benefits-and-efficiency-without-sacrificing-food-quality.aspxHealth benefits and efficiency without sacrificing food quality
How to become a leading country in flexible energy production systemshttps://www.vttresearch.com/Impulse/Pages/How-to-become-a-leading-country-in-flexible-energy-production-systems.aspxHow to become a leading country in flexible energy production systems
Impulse 1/2016https://www.vttresearch.com/Impulse/Pages/Impulse-1-2016.aspxImpulse 1/2016
Impulse 2/2016https://www.vttresearch.com/Impulse/Pages/Impulse-2-2016.aspxImpulse 2/2016
Impulse 2/2017https://www.vttresearch.com/Impulse/Pages/Impulse-2-2017.aspxImpulse 2/2017
Industrial 3D printing takes offhttps://www.vttresearch.com/Impulse/Pages/Industrial-3D-printing-takes-off.aspxIndustrial 3D printing takes off
Intelligence for machineshttps://www.vttresearch.com/Impulse/Pages/Intelligence-for-machines.aspxIntelligence for machines
Minister of Energy would like to expand emissions tradinghttps://www.vttresearch.com/Impulse/Pages/Minister-of-Energy-would-like-to-expand-emissions-trading.aspxMinister of Energy would like to expand emissions trading
Modelling and simulation facilitateshttps://www.vttresearch.com/Impulse/Pages/Modelling-and-simulation-facilitates.aspxModelling and simulation facilitates
Petri Kalliokoski: Artificial intelligence moves from words to deedshttps://www.vttresearch.com/Impulse/Pages/Petri-Kalliokoski-Artificial-intelligence-moves-from-words-to-deeds.aspxPetri Kalliokoski: Artificial intelligence moves from words to deeds
Minister of Economic Affairs Olli Rehn: Renewal of economy will bring new growthhttps://www.vttresearch.com/Impulse/Pages/Renewal-of-economy-will-bring-new-growth.aspxMinister of Economic Affairs Olli Rehn: Renewal of economy will bring new growth
Research with impacthttps://www.vttresearch.com/Impulse/Pages/Research-with-impact.aspxResearch with impact
Return on investmentshttps://www.vttresearch.com/Impulse/Pages/Return-on-investments.aspxReturn on investments
Same old routine for the next 100 yearshttps://www.vttresearch.com/Impulse/Pages/Same-old-routine-for-the-next-100-years.aspxSame old routine for the next 100 years
The creative force of change managementhttps://www.vttresearch.com/Impulse/Pages/The-creative-force-of-change-management.aspxThe creative force of change management
The creators of the future get down to businesshttps://www.vttresearch.com/Impulse/Pages/The-creators-of-the-future-get-down-to-business.aspxThe creators of the future get down to business
The future 5G network proceeds to test phase in Ouluhttps://www.vttresearch.com/Impulse/Pages/The-future-5G-network-proceeds-to-test-phase-in-Oulu.aspxThe future 5G network proceeds to test phase in Oulu