Discovering Business Opportunities in Queensland: A Conversation with Investment Director for TIQ

News from ANZ
|
06.02.2024

From our market expert ANZ Sabina Langenhan – she interviewed Stefan Augustin (Investment Director for Trade and Investment Queensland)

  1. Quick Introduction of your persona and Trade & Investment QLD;

My name is Stefan Augustin and I serve as the Investment Director for Trade and Investment Queensland (TIQ) in Germany. TIQ’s German office is located in Frankfurt’s financial district and we oversee Germany, Austria, Switzerland, and the Netherlands. My primary responsibility is to attract investment from these markets to Queensland.

I have over 15 years of experience in senior trade and investment roles worldwide, including positions with the Australian Trade and Investment Commission (Austrade) in various industries in both Australian and European markets.

TIQ is the Queensland Government’s global business agency that assists Queensland exporters in bringing their products to international markets and promotes Queensland as an ideal investment destination.

  1. Can you tell us about the current state of the Australian respectively Queensland market and its potential for international (German-speaking) companies?

Queensland’s economy is robust and growing faster than the national average, bolstered by a strong employment market. Our economy is modern, vibrant, and diversified, with a focus on sustainable growth for a greener future. This vision is supported by the A$62 billion Queensland Energy and Jobs Plan to achieve 70% renewable energy by 2032.

Queensland’s proximity to key markets in Asia provides businesses with a reliable and dynamic base to engage with the entire Asia-Pacific region. Queensland is capitalizing on this advantage, along with our abundant natural resources, skilled workforce, and pro-business environment to become a regional powerhouse.

The upcoming ‘Golden Decade’ will see Queensland undergo a transformation as we prepare to host the Brisbane 2032 Olympic and Paralympic Games. There has never been a better time to invest in Queensland. We welcome savvy investors to join us in realizing our vision for the state

  1. What are some of the biggest challenges that companies face when entering the Australian market, and how can TIQ help them overcome these challenges?

TIQ can assist you in understanding the local business environment by providing information on project requirements, tax and regulations, business costs, professional skills, labour, and other investment drivers within Queensland. We can also help identify suitable site options and arrange site visits. Additionally, we offer detailed industry knowledge and market intelligence to help you understand the markets.

  1. How can/does TIQ help international companies to navigate the complexities of the Australian market?

Trade and Investment Queensland is here to help you establish or expand your global operations in Queensland, Australia. Our ‘Team Queensland’ approach ensures that we work with relevant departments to provide you with the necessary service and information to make informed investment decisions.

We offer a range of investment support services to assist companies in establishing or expanding operations in Queensland. These services include liaising with government departments and agencies, facilitating introductions to potential industry partners and service providers, providing business case information, identifying suitable site options, and providing detailed industry knowledge and market intelligence. We also assist with business visa nomination support, identifying government financial incentives and investment-ready projects, and providing aftercare services.

All of our investor-related services are treated with the utmost confidentiality.

  1. How important is it for companies to understand Australia’s cultural and business practices when entering the market, and what resources does TIQ offer to help them navigate these differences?

N/A – covered in questions 3+4

  1. Can you provide some examples of successful international companies that have established a presence in (Australia) QLD and what factors contributed to their success?

Queensland is home to the most advanced military vehicle manufacturing facility in Australia. Under a long-term partnership with the Queensland Government, Rheinmetall Defence Australia has established its Australia-New Zealand Headquarters and Military Vehicle Centre of Excellence (MILVEHCOE) in Redbank, Ipswich.

From this facility, Rheinmetall is securing new business to deliver alongside the existing 211 Boxer combat reconnaissance vehicles to the Australian Army, management of the long-term sustainment of 3,500 logistics trucks, and manufacture of lance turrets for the Hungarian military.

  1. Can you talk about the key industries or sectors that are currently thriving in Australia, especially in QLD and why they present opportunities for German companies?

Two key areas of opportunity in Queensland are renewable energy and biomedical and health. The Queensland Energy and Jobs Plan outlines the transformation of Queensland’s energy system to deliver clean, reliable, and affordable power. By 2035, the Queensland SuperGrid is expected to have around 25 gigawatts of large-scale renewable generation, two world-class pumped hydro facilities, new transmission, and other storage and firming technologies to meet renewable energy targets of 70% by 2032 and 80% by 2035. The Queensland Government is incentivizing long-term industry growth to establish Queensland as a new energy hub in the Asia-Pacific region. With Germany being a global leader in renewable energy technologies, there are many opportunities for German industry.

There is also strong interest in the biomedical and health sector. Queensland’s robust regulatory and tax environment, combined with access to world-class researchers and clinicians, creates an ideal market for prototyping, testing, and conducting clinical trials.

  1. What advice would you give to international companies looking to establish a presence in Australia/QLD?

Contact me for a confidential conversation today. It is a great place to establish a presence to service the Asia Pacific region.

  1. How does TIQ work with international companies to help them identify and connect with potential partners or customers in QLD?

We will facilitate introductions to government departments, potential industry partners and service providers. Trade and Investment Queensland will support you throughout your entire investment journey and beyond.

  1. Are there any particular regions or cities in QLD that are particularly well-suited for certain industries or types of businesses?

Regional Queensland offers many attractive investment opportunities. We work with you to determine the best site selection based on your products, services, customer base, and other requirements. One such region is South East Queensland, which includes major population centres such as Ipswich, Logan, Moreton Bay, the Redlands, Gold Coast, Sunshine Coast, and Brisbane – the closest capital city to Asia on Australia’s east coast.

South East Queensland is home to 1 in 7 Australians and has a rapidly growing population, with Ipswich being the fastest-growing region in Queensland. Brisbane has a A$14 billion infrastructure pipeline and is expected to have a A$239 billion economy by 2041. The region also boasts nationally significant innovation precincts aligned with world-class education and R&D facilities. It is Australia’s fastest-growing region in the technology sector and is home to the country’s largest Air Force base.

  1. Can you discuss any upcoming initiatives or programs that TIQ is implementing to support international companies interested in doing business in QLD?

Queensland backs investors with significant financial and tax incentives through dedicated initiatives.

The A$5.84 billion Queensland Jobs Fund aims to unlock the potential of investment-ready projects in Queensland, turning innovative ideas into commercial products and offerings.

The fund encompasses a number of existing and new funds, including the A$520 million Invested in Queensland program targeting high value investment ready projects, and the A$350 million Industry Partnership Program which targets priority industry sectors.

Local government investment attraction incentives may be available across Queensland.

  1. Are there any initiatives from your Office in Frankfurt to support the German-Australian/QLD trade and export?

There is already a significant amount of cooperation and collaboration between Queensland and Germany in trade, investment, and research. We work closely with our Federal Government colleagues from Austrade in Frankfurt, the Australian Embassy in Berlin, the innovative German Australia Business Alliance in Brisbane, and the German Australian Business Council in Frankfurt.

We organize events such as our annual ‘Germany – Queensland Partnership Dinner’ and ‘Queensland Day’ get-together to bring together our Queensland network in Germany. We also promote investment opportunities through virtual workshops with industry experts.

  1. And anything else you wish to address

Queensland is a fantastic place to live, work, and invest. Our state has a thriving economy, a diverse population, and a beautiful natural environment. We also have strong connections with Germany, with many opportunities for collaboration and cooperation in trade, investment, and research.

At Trade and Investment Queensland, we are here to support your business case for Queensland. We offer a range of free services to help you establish or expand your operations in our state. Our ‘Team Queensland’ approach ensures that we work with relevant departments to provide you with the necessary service and information to make informed investment decisions.

Become part of our network and take advantage of our free services. I look forward to working with you to help your business succeed in Queensland.

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