10 December 2024 – Port of Melbourne has today welcomed the Victorian Government’s Economic Growth Statement, which provides positive and clear direction for businesses and industry in the State.

The Port of Melbourne Group is one of Victoria’s largest private investors and manages the State’s key trade gateway.

“Today’s Statement has an encouraging focus on trade, competitiveness and investment attraction,” Port of Melbourne CEO Saul Cannon said.

“It rightly recognises the challenges and opportunities arising from our population growth and our position in critical global markets.”

Mr Cannon welcomed trade initiatives such as plans for a new China Strategy and the focus on exports and agribusiness.

“China is a significant trade partner, representing our single largest import and export partner,” he said.

“We are very keen to work with the Victorian Government to understand and plan for regional market changes, to support our exporters through efficient infrastructure and to facilitate the international relationships that can offer opportunities to Victorian businesses.”

The Statement also contains a number of positive steps to support private investment in Victoria, as well as addressing structural issues such as industrial land supply that can inhibit growth.

“The Port of Melbourne is one of the State’s most significant public assets, facilitating more than $153 billion in trade moving across the docks every year,” Mr Cannon said.

“We have invested more than $800m in its development and operations since taking the lease in 2016. Not only do we expect to make significant further investments in the port itself, we want to see the supply chain operating efficiently and meeting the demands of growing markets.”

“We believe today’s Statement shows the right commitment to making that happen and look forward to working with the government and industry in its implementation.”