00:01Private investment in the NT has plummeted and some say it's been happening for a while.
00:07We are heading for a bit of a slump and the statistics have been showing that for some time.
00:13Major infrastructure projects in the Beetaloo Basin and in Darwin still yet to take off.
00:18Jim Eady says the government should be creating more small-scale opportunities.
00:23Instead of spending $200 million on a single individual project, spend $20 million on 10 projects.
00:28And that was one of the policies that the government brought to the election last time around.
00:35The head of the NT's Business Council agrees.
00:38Just like cost of living is going up, the cost of doing business is going up too.
00:43So it's relatively tough out there at the moment.
00:47But then NT's had a history of boom and bust and big projects are great but there's a downside to
00:53them as well.
00:54The data is increasingly clear.
00:56Three consecutive quarters of declining private sector investment, returning the NT to 2021 levels.
01:02And in the non-residential construction sector, which historically makes up a large portion of private investment, falls of nearly
01:0950%.
01:10If you skew your economy too far to the top end and particularly resources extraction alone, you tend to have
01:17the risk of a boom-bust economy.
01:18That means unstable levels of investment and population.
01:22I think it's pretty important to spell out the importance of trying to get the small to medium enterprise part
01:27of the economy working is actually the key to the future and the depth of that economy.
01:31And it's the key to population growth.
01:34Hoping to keep tradie boots on the ground and investment in the NT.
01:37Of which only the study offers here at GDP?
01:39That looks like clothes.
01:39And we currently have the average cost of that land traditional Africa.
01:40That looks like 여자 conferencias.
01:40And thenになります benefit of improving the different companies and businesses.
01:41There's going to be very customer savings, including marketing companies.
Comments