Andrew Liveris, the Australian-born CEO of US-based international firm Dow Chemical, has said that Dow would invest “multiple hundreds of millions” in Australia if the country changed its energy policy.
Liveris said that Dow only spent about $30-50 million in Australia each year out of an estimated $5 billion in capital investment worldwide.
In an apparent swipe at the level of encouragement Australia gives to business, Liveris told The Australian, “A lot of [Dow's investment] is in countries that actually get it, that actually understand how to put innovation-centric policies together and resource value-add policies.”
"If Australia started doing that, we would direct some of that here. Frankly, the sky is the limit."
A regular critic of Australian energy policy, which he has dismissed previously as “having no policy at all”, Liveris is a co-chair of US President Barack Obama’s Advanced Manufacturing Partnership and has been named as a member of a new Australian Advanced Manufacturing Council, which will be officially announced today.
In further criticisms of Australia’s industry policies in recent days, the Dow CEO told Inside Business that subsidies to struggling car makers should be withdrawn, and that the country had "lost its ability to actually innovate and actually develop the things that the US has."