Manufacturing News, New South Wales

Government announces changes to Investment NSW operations

NSW Premier Chris Minns has announced that industry, innovation, trade and investment functions will return to the centre of government through the transfer of Investment NSW to the Premier’s Department.

The state government believe this transfer will make it easier for industry, investors, and entrepreneurs to participate in major government priorities and ensure seamless co-ordination across government.

NSW Premier Chris Minns said, “The changes announced today bring structure and better co-ordination to important portfolios which together ensure our trade and investment is at the centre of government.”

The transfer brings management of proposals back to central government.

In addition, the state Government announced changes will be made to Department of Enterprise, Investment and Trade, to provide a renewed focus on government priorities in the arts, hospitality, tourism and the night-time economy portfolios, as well as driving the implementation of key reforms, including the vibrancy reforms.

These changes will include a new name, the Department of Creative Industries, Tourism, Hospitality and Sport.

Minister for Industry and Trade Anoulack Chanthivong said, “There are significant benefits to bringing Investment NSW and the Chief Scientist into the centre of government. Industry, innovation and trade are critical to driving the creation of quality jobs and a more resilient state economy.

The changes will come into effect on July 1, 2024, subject to the approval of the Governor-in-Council.

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