Australia needs skilled and business immigrants

Australia, 21st March: Australian government is going to lure thousands of skilled business immigrants to come and work here as part of the strategy to increase economy’s growth.

Once, Australia had ruled out its plans to restrict entry of skilled business migrants wanting to immigrate to the nation. But, now, the government says it will throw open the doors for foreigners possessing business skills to move to Australia.

Apart from skilled migrants, Australia is also feeling the need for attracting international students to give a fillip to the nation’s economy.

Business and skilled migrants vital to NSW--While speaking about the strategy of the NSW(New South Wales) government unveiled through a report, Andrew Stoner, Australia’s Deputy Premier and Minister for Trade and Investment, said NSW’s current intake of skilled migrants is lower than the current demand.

Business immigrants have experience in running foreign businesses as well as networks established by them in their respective native nations.

And this provides a vital link between NSW and global market, the report clarified. In the year 2010-11, number of skilled migrants coming to NSW was 1,750. However, this is quite keeping in view the relative economic size of NSW, he informed.

So, the aim of NSW government is to increase the intake of business immigrants since migrants help in filling skills gap thus providing a big boost to the rebuilding process of NSW.

Although, NSW is a preferred destination for a large number of business, skilled migrants and overseas students coming to Australia, however, still, more needs to be done for optimum growth and development of the economy, Mr. Stoner maintained.

Simplification of sponsorship criteria for foreign business investors—To enable eased entry of skilled business migrants to Australia, the government will lower sponsorship criteria for foreign investors wanting to come to Australia on Australian 165 visas.

Speaking about the conditions, Mr. Stoner said foreign business investors are currently required to invest funds between $750,000 and $1.5 million in the nation.

And Australia will consider making foreign investments in New South Wales more attractive through launch of another Australian visa category.

Among other proposals to be discussed with the Commonwealth including reduction of conditions for Australian temporary residency. Proposals facilitating easier extension of Australian residency for foreign business migrants will also feature among discussions.

Australian government also plans to reduce red tape for enabling higher number of international students aspiring to come and study here. Plans include extension of post-study working rights for overseas students coming here.