Key international investors looking at Queensland opportunities

Treasurer Curtis Pitt will outline Queensland’s significant potential to a group of key international investors collectively worth trillions of dollars, as part of the Commonwealth Bank’s Australasian Fixed Income markets for global investors at an event in Port Douglas tonight.

Mr Pitt said Queensland Treasury Corporation’s partnership with the CBA would provide delegates with both an in-depth understanding of investment opportunities in Queensland’s future economic development as well as a hands-on Queensland tourism experience.

“The lower Australian dollar, growing confidence, resurgent tourism sector and economic growth means international investors are looking directly at Queensland right now,” Mr Pitt said.

“The delegates visiting Queensland are primarily fixed income investors from central banks, commercial banks, pension fund managers, life insurance companies and asset management companies with combined assets under management estimated to be worth in excess of US$3 trillion.

“These global investors will leave the tropics fully informed about Queensland’s strong economic and fiscal position and our nation leading growth.

“Delegates will have opportunities to experience our renowned eco-tourism offerings including the Low Isles on the Great Barrier Reef, the Ngadiku Dreamtime Walk in Mossman, cruising the Daintree River and getting up close and personal with some native Australian wildlife.

“I hope they will effectively become investment and tourism ambassadors, equipped to promote Queensland in the world marketplace.

“Queensland has a proven track record of economic growth with a diverse economy which has in the past and will in the future, hold us in good stead through global economic cycles.

“The Palaszczuk Government is driving an innovation agenda to ensure our economy continues to grow, regain confidence and attract this kind of significant investment.

“Cairns is strategically positioned to capitalise on Australia’s Developing Northern Australia initiative due to its sizeable population and existing economic activity in the North.

“Our strong commitment to building infrastructure that further grows our economy continues to attract private sector investment.

“I will also discuss S&P Global Ratings’ announcement yesterday which affirms our AA+ rating based on our quote: ‘very strong economy, strong financial management and budgetary performance, and low contingent liabilities.’ 

“This is on top of last week’s announcement from ratings agency Moody’s which confirmed its Aa1 credit rating for Queensland.”

This will be the Commonwealth Bank of Australia’s ninth annual conference focussing on the Australasian Fixed Income markets for global investors. 

Queensland Treasury Corporation (QTC) has partnered with the CBA for six of these conferences, providing delegates with a hands-on experience and in-depth information about investing in Queensland’s future economic development.

Philip Noble, QTC’s Chief Executive, said that while the international market for funds has always been competitive, ongoing volatility since the global financial crisis has led to competition unlike ever before.

“QTC must invest in its global investors, as they have a virtually unlimited choice as to where they can invest their funds. QTC currently holds approximately $90 billion from investors, almost half of which comes from offshore,” Mr Noble said.

“The conference will kick-off on Thursday night with a key-note presentation from the Treasurer of Queensland, the Hon. Curtis Pitt, looking at why growing innovation, attracting investment and building infrastructure are all key to economic growth and what the Northern Australia strategy means for North Queensland.”

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