Business bulletin: 19 October 2023

Last week the Northern Territory Government signed a Memorandum of Understanding (MOU) with the Kerala State Government, India to develop further economic, social and cultural relationships between our two regions.

This is the first MOU the Northern Territory Government has entered into with an Indian state, which formalises and reinforces the relationships between the two jurisdictions.

A key initiative under the MOU is a Kerala Nurse Pilot Program.

Delivered over the next 2 years, up to 20 nurses from Kerala State will be supported to work in the Territory health care sector under an innovative program. The pilot program is offering funding of up to $10,000 per eligible Kerala nurse, to gain post graduate upskilling qualifications in an area of critical demand including mental health, perioperative, or renal care.

The pilot program creates new employment pathways in the Territory’s areas of skill shortage, strengthening our allied health workforce, while also leveraging the strong people to people links between the Northern Territory and Kerala State.

Eligible nurses will be able to work in one of the Territory’s key regions - Darwin, Katherine or Alice Springs.

India is one of the top 10 trading partners of the Northern Territory and a priority market in the Northern Territory Government’s International Engagement Strategy 2022-2026.

The Northern Territory Government is keen to explore greater engagement with India, and promote that the Territory is open for business across key sectors including energy, hydrogen, critical minerals, health and services including tourism, higher education and vocational education.

Territorians, business and industry still have time to have their say on the development of the Territory maritime industry with the release of the draft Maritime Industry Development Plan (MIDP).

The MIDP provides a framework to grow the size, scope, capability and commercial sustainability of the Territory’s maritime sector.

The maritime sector is fundamental to the Territory’s economy; it is a key enabler for a range of industries including oil and gas, defence and border protection, agribusiness, recreational and commercial fishing and tourism.

In 2019-20, the direct value of the maritime industry to the Territory’s economy was $184 million with the sector expected to grow by 89% over the next 10 years bringing the direct value to $347 million by 2030.

The MIDP provides a strategic industry framework, which includes the development of the Marine Industry Park, Darwin Ship Lift, Middle Arm Sustainable Development Precinct, berths for superyachts, and more.

The Darwin Ship Lift and Marine Industry Park will become the centrepiece of the Territory’s maritime industry paving the way for hundreds of jobs and positioning Darwin as a major international and national player in the marine services industry.

Have Your Say on the draft Maritime Industry Development Plan, go to the Have Your Say Northern Territory website. The consultation period is open for 4 weeks, with a closing date of 1 November 2023.

Defence investment in the Territory is expected to inject $6.2 billion into our economy and create 7,600 new local jobs over the next four years, new independent economic analysis reveals.

Last week, Master Builders NT released their Billion Dollar Partnership: Economic Impact of Defence Infrastructure Projects in the Northern Territory report.

Economic advisory firm ACIL Allen were commissioned to analyse the impact of defence infrastructure investment in the Territory. In addition to thousands of Territory jobs being created, the report found defence spending over the next four years will add on average a further $800m per annum to the current levels of construction activity in the Top End. This investment is also projected to add almost 5% to Gross State Product in 2025/26.

The Northern Territory plays a crucial role as an alliance hub to support and enable Australian and allied military forces. The Defence Strategic Review makes clear, the Territory’s role in supporting defence in the region will grow substantially in the coming years.

Defence projects which will soon start to roll out and complement the work which is occurring at the Larrakeyah Defence precinct, RAAF Base Darwin and Crowley US Fuel storage.

Master Builders NT CEO, Ben Carter said the $6.23 billion investment by ADF and the US military is a hugely positive story for Territorians.

“The scope and scale of the investment means over 7,500 more jobs and opportunities for businesses not just in the construction supply chain but across the Territory economy which could surge by nearly 5%.

“The confirmation of the project pipeline provided by the Billion Dollar Partnership report should give Territory businesses the confidence to take the necessary steps to gear up their businesses to take advantage of the huge opportunities it provides.”

The Northern Territory Government will keep working closely with Defence, Master Builders and Industry to help maintain the level of work being delivered by Territory businesses and maximise opportunities for Territorians.

To view the report, go to the Master Builders Northern Territory website.

The achievements of the Territory’s top exporters have been recognised at the 30th Chief Ministers’ NT Export Awards last week.

The Northern Territory is a significant contributor to Australia’s national trade, and this year’s awards showcase the excellence of exporters operating in the Territory.

International trade is a significant driver of the Territory’s economy and is a catalyst for growing investment, developing new business opportunities and creating local jobs. It is also integral to achieving the NT Government’s goal of becoming a $40 billion economy by 2030.

This year’s awards include education, manufacturing, agribusiness, sustainability, emerging and regional exporter. Winners of the national program categories are:

• Advanced Technologies - Speed3D
• Professional Services – KBA Global
• Sustainability and Green Economy – Speed3D
• International Education and Training - Alana Kaye Group Pty Ltd
• Emerging Exporter - AusNorth Trading Pty Ltd
• Agribusiness, Food and Beverage – Rum Jungle Exports
• Manufacturing and Advanced Materials – Speed3D
• Small Business – Ikuntiji Artists
• Regional Exporter – Asia Pacific Aircraft Storage

The overall winner for the NT Exporter of the Year was awarded to Speed3D.

The Chamber of Commerce sponsored two separate international awards outside of the national awards program.

The winners are:

• Excellence in the supply chain supporting the Export Industry in the Northern Territory – Airway (Pak Fresh Handling)
• Excellence in events/international trade delegations supporting Northern Territory export activities and businesses – Darwin City Council

Winners of the Northern Territory Export Awards national program categories automatically progress as finalists in the Australian Export Awards to compete against their peers and receive national recognition.

The National Export Awards ceremony is to be held in Canberra on 30 November.

CEO & Founder at Venus Health Co., Adeyinka Adegbosin

In an era when digital transformation is bridging gaps and making healthcare more accessible, a Northern Territory business ‘Venus Health Co.’ is making strides in pregnancy, childbirth, and postnatal healthcare.

Adeyinka Adegbosin, the CEO & Founder at Venus Health Co., experienced firsthand during the birth of their child in Alice Springs during the Covid pandemic, the various levels of access to information in a regional setting.

“Our mission is to become a complete digital solution for women during their reproductive care journey, one which complements the existing regional and remote services.”

Venus Health Co. received funding from the Business Innovation Program (BIP) in 2021 and recently completed the program, having successfully commercialised their telehealth app. The funding enabled Adeyinka to produce content locally and engage product marketing strategists to test their market through various advertising channels.

The Venus Pregnancy & Birth app is designed to support expecting and new mothers through the stages of pregnancy, childbirth, and postnatal care.

The app provides free access to expertly curated video content developed by a qualified and registered midwife, covering topics such as pregnancy, labour, postnatal care, and newborn milestones.

With over 3,000 downloads in three months and a Telehealth model that’s been live for one month, the future seems promising.

The app is now live and available to download, it includes 30 videos on topics ranging from what to do after a positive pregnancy test to ways partners can best support their loved ones in pregnancy. For more information on Venue Health Co, go to the Venus Health website.

Territory businesses, start-ups and entrepreneurs can also turn their innovative ideas into reality with support from the Business Innovation Program (BIP) 2.0.

BIP 2.0 supports Territory businesses develop and commercialise their innovative idea through funding and advisor support.

Round 3 applications are now open.

To apply, go to the Northern Territory Government website.