The much-awaited Defence Industrial Capability Plan is set to be released soon, Defence Industry Minister Christopher Pyne has confirmed.
The plan, which will aim to give Australian businesses a better idea of how to capitalise on the $200 billion of investment going into the industry, is set to be released before the federal budget on 8 May this year.
"I’ll soon release the Defence Industrial Capability Plan, which puts even more meat on the bones to the areas that we want to have our own sovereign capabilities, our own priority areas," Minister Pyne said in address to Team Defence Australia at the DSA event in Kuala Lumpur.
"And we put the money aside, $200 billion, to build up the capability of our military over the next 10 years, and now it's really over to industry to take all the opportunities that we are giving industry."
The soon-to-be-released plan follows the release of the Defence Export Strategy in January this year which included an array of new initiatives and investments including a new Australian Defence Export Office, the recent appointment of David Johnston as Australia's first Defence Export Advocate, a $3.8 billion Defence Export Facility to be administered by Australia's export credit agency Efic and a $20 million a year commitment to implement the strategy.
Two other policies are also due for release this year; a defence industry skilling and STEM strategy, and a defence industry participation policy.