Business Migration

The Hon. T.T. NGO (15:34): Business migration provides great opportunities for our state. It allows migrants, who have the ability to invest in South Australia, to move here and contribute to our great state. Over the last six years, South Australia has nominated over 1,000 business migrants. The number of approved South Australian states nominated applications has increased over the last three years from 33 in 2012-13 to 187 in the 2014-15 program year. In the last two years, Immigration SA nominated 102 high net worth migrants who must make an investment within two years of their visa being granted. To date, 31 of these high net worth nominees have received visas.

To ensure that South Australia receives the greatest benefit from business migration, the state government regularly hosts networking events for business migrants, usually in partnership with a local business organisation. By involving local businesses, business migrants can extend their networks. I have been told this is critical as most business migrants prefer to get investment advice from friends intending to purchase existing businesses.

Just recently a survey showed that over half of South Australia's business migrants want to learn more about investment opportunities in regional South Australia. Many showed a strong interest in the South Australian food and beverage sector and export opportunities. Why wouldn't they, when we produce such great food and wine? I am sure members would agree that we have some of the best food and wine in the world. It is great for our region that business migrants have shown such great interest in this area.

Speaking of the region's beverages, Besa Juice is a South Australian business migration success story. Besa Juice was founded by Mr Emanuil Manolov, a business migrant who moved to South Australia in 2008 and began a fruit juice company in Lobethal. Besa Juice supplies juice to businesses including supermarkets, hotels and restaurants. In the 2013-14 financial year, Besa Juice's sales exceeded $500,000 and provided work for 11 casual staff and one full-time employee.

There are many other success stories as business migration is already providing great investments to our state. I will share with you another example which ties in with another great South Australian export, our tourism sector. A fashion industry business migrant from China has already begun significant tourism investment in Kangaroo Island. This migrant brought a delegation of over 300 people to Kangaroo Island, which included journalists, and members of the fashion and tourism industries. They have also produced a fashion collection inspired by our nature of Kangaroo Island and used the island as a backdrop for a fashion shoot. This is great advertising for our beautiful Kangaroo Island.

By increasing the number of business migrants, the state will open up to more investment by the international community. We have already had great success in attracting business migrants through regular promotional trips to China and engagement with clients and stakeholders. This month around 50 prospective business migrants and agents will visit South Australia. They will get to see for themselves our great lifestyle and the investment opportunities that South Australia has to offer.

During this visit the state government will showcase our regional investment opportunities to help further increase the number of business migrants to South Australia. The South Australian government is continuing to lobby the federal government to increase regional concessions. Increasing the regional concessions will help to encourage more business migrants to consider locations outside of the bigger eastern cities. We may be smaller than the eastern cities but we have a lot to offer.

Time expired.