Country: The Commonwealth of Australia

Committee: International Monetary fund

Agenda: Empowering National Economies through Private-Public Partnerships, Young
Entrepreneurs, and Cooperation of Private Capital Market.
The Commonwealth of Australia understands how critical it is to promote stability and
economic prosperity via creative and inclusive policies. We feel that strengthening national
economies through public-private partnerships, young entrepreneurs, and the participation of
private capital markets is essential for sustainable growth in an era marked by rapid economic
change and globalization. Australia is a country with a strong economy and a vibrant business
sector. However, in recent years, there have been concerns about the slowing growth of the
economy and the rising cost of living. The Australian government has recognized the need to
address these challenges and ensure that the economy remains strong and competitive in the
global marketplace.
Australia is one of many countries in the world that successfully employ the practice of PPP.
public private partnership in Australia have been implanted across various sectors including
infrastructure, Health Care, and Education.but in recent times Australia facing problems
implementing the ppp agreements. cost overruns, risk allocation , long-term financial Burden,
non-independence of implementing organizations, and insufficient risk profile identification.
The biggest problems young entrepreneurs face are managing finances properly, building
relationship with suppliers and Consumers, taking critical decisions, accessing resources such
as money or information, cultural and gender biases their ego’s, and the arrogance of thinking
they know all of the answers.
Australia intends to discuss about The Australian Government's development policy
Partnerships for Recovery – Australia's COVID-19 Development Response and performance
framework, outline Australia's approach to tackling COVID-19 in our region focussed on
health security, stability and economic recovery. Under this policy, DFAT is pivoting existing
private sector programs to support economic recovery. We are working with businesses to
create livelihood opportunities, support inclusive business practices, enhance gender equality
and support countries to build back better and strengthen resilient economic recovery.

Australia suggests Establishing a dedicated PPP unit within the Department of Infrastructure,
Transport, Regional Development and Communications to coordinate and promote PPPs
across the government. Providing funding for a national network of incubators and
accelerators to support young entrepreneurs.Introducing a tax incentive for investment in
private equity and venture capital. Support the development of new investment vehicles, such
as crowdfunding platforms. Reducing regulatory barriers to entry for private capital
firms.Providing financial and other support to young entrepreneurs.Reducing regulatory
barriers for young entrepreneurs and private capital firms.Raising public awareness and
understanding of PPPs, young entrepreneurs, and the private capital market.
Referances:

https://www.cis.org.au/publication/risky-business-why-millennials-are-scared-off-
entrepreneurship/#:~:text=The%20entrepreneurship%20rate%20for%20the,on%20average
%20for%20advanced%20economies.

https://www.dtf.vic.gov.au/2023-24-state-budget/2023-24-budget-overview

2023-24+State+Budget+-+Budget+Overview.pdf

https://www.canberratimes.com.au/

https://www.dfat.gov.au/development/who-we-work-with/private-sector-partnerships