Territory Economic Reconstruction Commission first report, July 2020

The Territory Economic Reconstruction Commission released its first report to the [Northern Territory] Chief Minister on 20 July 2020, setting out immediate priorities for action to capitalise on the Territory's competitive advantages and attract more private investment. The Territory Economic Reconstruction Commission's responsibility is to provide advice on a path forward to grow the Territory economy in the medium term. There is an urgency to the Commission's work: [Coronavirus Disease 2019] COVID-19 has resulted in both Territorians and all Australians emerging from this crisis poorer than anyone could have anticipated. For the Territory, this crisis has come at a time when the economy, having undergone a transition from a major construction boom, was just showing signs of turning around before COVID-19 delayed private and public sector funded projects.

The Commission has developed a work plan focused on the key sectors and capabilities it considers to be the most critical in the current environment for the Territory's medium-term growth. Over the next five months, the Commission will continue to discuss and consider issues as they emerge, taking the advice of Team Territory, Regional Reconstruction committees, Land Councils, peak industry organisations, Territory businesses and the general public. The evidence-based insights from Territorians through the submission process will inform how the Commission's priorities and advice evolves towards the final report in November.

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