Reasons to Invest in Western Australia
The beautiful landscapes and easy trade route have made this place famous amongst the investors. Businessmen from all over the world are keen to explore this beautiful state of Australia. The region covers entire west coast of the country and amalgamates with the famous Indian Ocean in the north direction.
Have a look at the points that makes WA a hub of investment for the world.
- WA Welcomes Foreign Investment
The place is rich in natural resources thus it offers the largest number of iron ore and other mineral ores in the country. Other than extracting minerals, the region is best known for gold mining as well. The skilled labor, financial assistance to the investors and the strong economy are the few reasons that appeal investors from the world.
- WA Trades through Water
Situated on the western seashore of the country, this region connects to the Asian continent through the waterway. Apart from offering mineral products the state also provides fresh seafood to the countries such China, Japan, South Korea and other. This strengthens the economic growth of the region. WA is an international market for various sectors due to its same time zone.
- Being Largest Supplier of Iron
The State is the second-largest supplier of iron ore in the world. This region witnessed a huge increase of 33 percent in the exploration of iron ore in the year 2007-08. This exploration resulted in high rate of export that year and the following year that was 2008-09. China is the largest importer of the mineral produce of this region. Mining of the iron ore makes a huge contribution to the state’s economy.
- Government’s Supportive Schemes
Western Australia’s government runs investor-friendly schemes to attract foreign investors. The department of mining and petroleum receives more than 7,000 investment proposals every year. The smart work system gives clearance within 65 working days and ensures smooth business opportunity in the region. This allocation allows industry building in a short span of time.
- Exploration Investment Scheme
Through this scheme, the government sanctioned $110 million for unearthing various minerals in the region. The sanctioned amount got incentive of $10 million per year till June 2017. Investors have grab to this opportunity has a result of which the state is enjoying the benefit of $10.3 million on every one million dollar invested in the state. Thus, this is the high time to invest money in this part of Australia.
- Education and Business Opportunity
The fact that Australia is the second best education provider in the world is an open truth. Hence, this region also absorbs thousands of international students every year. The students seeking on-hand practice are welcome in Western Australia by various Universities. The establishment of Minerals Research Institute of Western Australia [MRIWA] by the government offers space for research and development of new techniques in the field of iron ore mining.
- Job Opportunities
The state hold 25 percent + share in the Australia’s mining equipment and technology support sector. Thus, there is a huge requirement of professionals and skilled labor. This requirement opens job opportunities to thousands of professional within the country as well as for the foreign job aspirants.
- Boom in Property Market
Another reason for investment money in this part of Australia is – flourishing real estate market. When other capital cities are recording a dip in the property market, the Perth city is enjoying perks. The double digit-growth in the prices has completely changed the market here. Experts suggest that making a property investment in Western Australia will be a wise decision.
- Modern Lifestyle
The multi-cultured lifestyle of this state attracts people at large. The foreign nationals find this place highly accessible. The proximity of schools, colleges, hospitals and shopping centers make the place more livable. The education quality of the Perth city makes people extend their stay with the families.