Canberra [Australia], September 12: Crocodile farming and the native bush food industry will be key to growing the economy of Australia's Northern Territory (NT) under a new plan.
The NT government on Monday released the Top End Region Economic Growth Plan 2022-2030, outlining opportunities to help achieve the goal of a 40 billion Australian dollar (27.3 billion U.S. dollar) economy.
It features a strong focus on the agriculture, tourism, resources and energy growth possibilities in remote areas of the NT.
For the Tiwi Islands off the north coast of the NT it identified a planned crocodile hatchery, aquaculture and the buffalo industry as major opportunities.
"Tiwi Enterprises will construct and operate the hatchery, with the eventual aim, in year 2, to take in 2,100 eggs for incubation," the report said.
It said an aquaculture prospectus had been created to promote potential areas for aquaculture development of different species, including prawns, barramundi and oysters.
"Approximately 18,000 head of buffalo live on the Tiwi Islands. Feasibility planning is underway to develop the industry, including safari-style tourism, live buffalo exports and developing a meatworks that would service the local population and crocodile farm."
According to a report published by national science agency the Commonwealth Scientific and Industrial Research Organization (CSIRO) in March, Australia has the potential to become a world-leading protein exporter.
It identified the export of non-traditional protein sources such as edible insects as a significant growth opportunity.
The NT report said such opportunities were being explored by some businesses.
"Initiatives include developing Kakadu plum orchards and exploring the commercialization of other bush foods found on country," it said.
NT Chief Minister Natasha Fyles said on Monday that with a focus on agribusiness, resources, tourism, energy transition, construction and civil works, the plan sets out a pathway to create local jobs, economic growth and attract private investment.
Source: Xinhua
