Federal Government’s $15 billion landmark bill to transform Australia’s industry.
There has been something of a re-awakening prompted by post pandemic supply chain issues. It has made many nations re-access their reliance on imported manufactured goods.
So, there is a real impetus behind supporting and encouraging a resurgence in manufacturing in Australia. It is imperative to build a more robust manufacturing base.
The funding will be behind the formation of the National Reconstruction Fund. So what will this entail?
The National Reconstruction Fund (NRF) will focus on seven priority areas of the economy:-
- Renewables and low emission technology
- Medical science
- Transport
- Value-added resources
- Defence
- Enabling capabilities
Obviously, some of these areas are sectors Ronson Gears already serves, so we hope we can contribute to making this initiative a transformative success.
According to Minister Husic, the NRF will serve as a ‘connective tissue’ between the country’s manpower and onshore technologies and innovations.
Follow the full article and links to the public consultation for input into the scope of the seven priority areas here.