The feds are asking industry what the focus should be for Australian manufacturing. The Australian Academy of Technology and Engineering has four preferences.
Medical products: “Australia has the skills, capabilities and potential for a sustainable medical device industry, but the conditions have not been created to attract significant private investment in manufacturing facilities, and inconsistent incentives have resulted in much of Australia’s medical manufacturing move offshore.”
Recycling and clean energy: “Appropriate new technologies are available but are yet to be widely adopted in the recycling and manufacturing sectors.” Australia is a “world leader” in solar and wind, “but challenges remain in stability systems for reliable and low-cost supply.” Other opportunities include a hydrogen market, energy storage and grid stabilisation.
Resource tech/critical mineral processing: “Significant new investment and collaborative models are needed to develop breakthrough technologies and world-leading hubs in Australia for minerals, given the reduction of major new mineral discoveries in Australia.”
Food and beverage: “Agricultural biotechnology can increase the efficiency of land, water and energy use while delivering higher quality crops.”