NT plans to ‘unlock Singapore’ as part of a $40b goal

A series of key meetings are being held in Singapore aiming to increase investment in the Northern Territory. Here’s what’s planned.

Two Northern Territory government heavyweights will attend a series of strategic meetings in Singapore this week in a bid to attract investment.

It comes as part of a Territory government strategy dubbed, “Unlocking Singapore”.

The NT government has set a bold goal of achieving a $40 billion economy by 2030 and sees Singapore as a crucial part of its plan.

Singapore is currently the Territory’s third largest trading partner and is seen as a priority in the government’s International Engagement Strategy.

Japan has been the Territory’s largest export market ($3.5bn), followed by China ($2.4bn) and Taiwan ($863m).

The largest import markets for the NT are Malaysia ($274m), Japan ($131m) and Singapore ($110m).

Treasurer Eva Lawler will travel to Singapore this week. Picture: Pema Tamang Pakhrin

NT Treasurer and Territory Development Minister Eva Lawler and Infrastructure Commissioner Louise McCormick will meet with a variety of project proponents, investors, off-take parties, intermediaries and funders in Singapore.

The pair hopes to secure investment in water, gas, renewable energy, critical infrastructure and education sectors.

Key groups the pair will meet with include Sembcorp to discuss investment strategies and renewable energy investment opportunities and the Energy Market Authority regulator to explore possibilities of energy offtake from NT energy suppliers and to provide an update on the Sun Cable project.

They will also meet with Keppel to discuss data plus and tropical data centre opportunities and the world’s second largest port operator, PSA Singapore, to explore areas of collaboration and investment.

Minister Lawler will also meet with managers of Singapore’s sovereign fund GIC as well as the Centurion Corporation to discuss investment opportunities for student accommodation in the NT.

“The Northern Territory has the potential to be a key player across many evolving sectors, and our counterparts from Singapore understand the opportunities, which come with investing in the Top End,” Ms Lawler said.

“We are committed to creating a booming $40b economy by 2030 through promoting our strategic advantages, investment opportunities and brining new businesses to the Territory with key trading partners.

“I am determined to develop the best strategic partnerships, which will deliver the best results forTerritorians.”

Coincidently, 51 year 6 students from Larrakeyah Primary School will also be in Singapore visiting partner school, Leeds International School.

The students have been invited to joing Minister Lawler to meet with the Australian High Commission to talk about further collaboration on arts projects.

Minister Lawler and Ms McCormick’s are not the only government officials heading abroad this week, with Chief Minister Natasha Fyles leaving the country at the weekend to visit Washington for key defence and trade discussions.