Skilled migration from Hong Kong will be critical to bridge Australia’s talent gap

From

Yasser El-Ansary

The government’s announcement today that it will establish a targeted regime aimed at attracting skilled migrants and entrepreneurs from Hong Kong will provide a critical boost to bridging the talent gap in Australia’s fast growth companies, according to the Australian Investment Council.

“Australia currently has skills and talent gaps that need to be filled as a priority to help accelerate our economic recovery,” said Yasser El-Ansary, chief executive of the Australian Investment Council.

“In the private capital sector specifically, talent and skills gaps exist in a multitude of areas such as C-suite leadership roles, as well as technical and specialist roles in engineering, medical research and product management.

‘’The government’s announcement today of a new regime to attract entrepreneurs and skills from Hong Kong and to extend visas for completing tertiary education courses in Australia is a positive step towards developing the skills we require for the long-term,” Mr El-Ansary said.

The Australian Investment Council is engaging with government on the need for this type of targeted talent acquisition initiative to be rolled out across other jurisdictions, in parallel with encouraging Australians skilled in technology and innovation ecosystems who are currently based overseas, to return home.

Mr El-Ansary added: “To be internationally competitive, Australian businesses need access to the world’s best talent. Where local companies cannot access the necessary talent, they can be forced to relocate overseas, taking with them jobs and revenue.

“Australia has an opportunity to emerge from the COVID-19 pandemic as a more competitive nation in the global marketplace.”

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