There are many positive aspects to the Innovation Statement launched yesterday and it has broad appeal across a number of industries. However, the mining services sector is one that is experiencing very challenging business conditions and innovation is key to the future. It is critical that METS companies embrace innovation to adapt and secure financial growth, capitalising on our competitive advantage in Australia. Additional incentives to encourage innovation and investment are a win for the METS sector
The METS sector has been identified by the government as one of five growth sectors where Australian has a significant competitive advantage. Today’s Innovation Statement supports the METS’ sectors transition from the mining industry to a broad-based, highly innovative sector offering strong growth prospects for the future. “The Prime Minister’s pledge to invest more than $1bn in new spending over four years, to foster an innovative, risk-sharing culture in Australia, will contribute significantly towards growing the Australian METS Industry,” said METS Ignited chair, Elizabeth Lewis-Gray.