CLOSING THE GAP

“Fostering economic
development in Northern
Australia, where 43 per
cent of land is held under
native title, must not be
a wasted opportunity.”
Bruce Martin
KEY POINTS
• All governments are prioritising Indigenous
economic participation – driving demand
for Indigenous businesses while also
helping to build supply and capacity.
• The Australian Government’s new Indigenous
Procurement Policy has seen Government
contracts valued in total at $284.2 million
awarded, a 45-fold increase on previous years.
• Indigenous businesses are active
across all sectors of the economy
• Land is a significant asset base for Aboriginal and
Torres Strait Islander people. Governments are
working on how they can better support communities
to leverage their land assets for economic
development, as part of the mainstream economy.
NATIONAL POLICY TO DRIVE
IMPROVEMENT IN ECONOMIC
DEVELOPMENT
Governments are collaborating with Indigenous leaders
and communities to provide better opportunities
for Indigenous Australians to engage in the
economy and increase employment prospects.
This follows a collaborative effort from governments
to improve Indigenous land administration,
enabling Traditional Owners to attract private
sector investment and finance to develop their
own land with new industries and businesses.
In addition, the Commonwealth is looking at ways to
apply Indigenous Procurement Policy principles to other
forms of Government spending, including grants and
is developing an Indigenous Business Sector Strategy
to build economic empowerment and independence.
Indigenous businesses around Australia are doing
fantastic things from mining and construction to
renewable battery storage and fibre optics. However,
there is a clear gap in the rates of self employment
of Indigenous people compared to non-Indigenous
people – Aboriginal and Torres Strait Islander
people are around three times less likely to be selfemployed
than non-Indigenous Australians.
CLOSING THE GAP: PRIME MINISTER'S REPORT 2017
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