Treasurer Jim Chalmers has thrown open his long-awaited Investor Front Door as a pilot program begins to make it easier and faster for investors to get large scale projects underway.
The Investor Front Door, which acts like a concierge service to help investors navigate approvals processes, was announced as a 2024 Budget measure.
Mr Chalmers has touted the program as a means of improving Australia’s regulatory environment by streamlining the way that investors and business interact with government.
Where it is possible, the program is expected to fast-track large-scale projects, with the pilot phase supporting a select number of nationally significant projects.
These projects will need to demonstrate that they:
- Have the potential to deliver transformational opportunities to Australia
- Will generate benefits for Australia
- Can benefit from the Investor Front Door’s services
- Have reasonable prospect of success
Projects selected for the pilot phase will have a dedicated engagement manager who will provide a faster way to navigate regulatory and approval requirements and identify suitable government financing opportunities.
The pilot phase will also be used to gather evidence on overlaps and gaps in Australia’s regulatory environment and project financing arrangements and inform the government of areas for improvement.
More information on the program, including project criteria, is available on the Investor Front Door website.
Speeding up approvals was a big feature of the Albanese government’s Economic Reform Roundtable, and there was strong support for the Investor Front Door.
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