Australian goods and service providers will benefit from a national push to buy local.
The Federal Government recently proposed major procurement reforms that include establishing a Future Made in Australia Office and increasing the number of contracts for industry.
The new Buy Australia Plan is promised to give more contractors and suppliers a chance to win tenders.
“In the coming weeks you will find us releasing more detail about the [Future Made in Australia Office] and engaging in public consultation around that,” Federal Industry and Science Minister Ed Husic said according to the Procurement and Supply Australasia website.
“I have said a number of times that I see the value of us being able to reform procurement, to open up contracts to Australian industry as part of a process of strengthening onshore capability.”
The Australian Labor Party estimates local businesses miss out on billions of dollars of contracts that are awarded to offshore rivals.
“Government spending on contracts is a significant economic driver in Australia, totalling nearly $190 billion over the last three financial years,” the plan said.