Treasurer to shore up international investment

In the midst of global economic turmoil Queensland remains an attractive place for international investment, according to Treasurer Andrew Fraser.

Mr Fraser leaves today on an 11 day Offshore Investor Program, meeting current and potential investors from the world’s major financial markets.

“The Queensland economy is almost uniquely placed to ride out the global financial crisis,” Mr Fraser said.

“However, we are players in a global economy, and that means we will experience the effects from global instability and slowing global economies.

“Because of current events, the Offshore Investor Program I leave on today takes on even more importance.

“Now is a time when international markets will be looking for potential investments, and they should look no further than Queensland.

“I will visit the traditional financial markets of London, New York and Zurich, and have face to face meetings with our key investors.

“Never before has it been more important for Queensland to foster these relationships with the investors who help finance the massive infrastructure requirements of our growing economy.”

Mr Fraser will be the first Queensland Treasurer to travel to the middle east – Dubai in this case – as part of the program.

Mr Fraser said the International Monetary Fund has estimated a slowdown in world output growth from 5.0% in 2007 to 3.9% in 2008, and has forecast growth to moderate further to 3.0% in 2009.

“The 2008 figures represent a further downgrade to the forecast in their July Update.

“Growth in our major trading partners is likely to be just 2.6% next year.

“It’s imperative we maintain strong partnerships and cultivate new ones in international markets.”

Media Contact: Brendan Connell 3224 5982