Defence industry plan release imminent

Minister for Defence Industry Christopher Pyne addressing Team Defence Australia at DSA 2018. Image via @cpyne

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.

Defence industry plan release imminent
lawyersweekly logo
Promoted Content
Recommended by Spike Native Network

more from defence connect

May 25 2018
Australia backs US decision to uninvite China from RIMPAC
Australia has thrown its support behind the US decision to withdraw its invitation to China to parti...
May 26 2018
New force in Australian shipbuilding enters the market
Offshore Patrol Vessel designer, Lürssen, has teamed up with Australian engineering and constructio...
May 25 2018
ASC to undertake digital transformation
ASC has launched a digital transform program to identify and rollout new technology and innovation a...