CSIRO Identifies Opportunities for Economic Recovery

The CSIRO’s “COVID-19: Recovery and Resilience” report highlights the trends and national advantages COVID-19 has created, and opportunities for key industries to restore economic growth and resilience.

“At this pivotal time in our history, the inclination is to batten down the hatches and postpone investments, when actually we need to double down on Australian innovation,” CSIRO Chief Executive Dr Larry Marshall said.

The report highlights job creation and investment opportunities for the manufacturing sector.

CSIRO Futures Lead Economist, Dr Katherine Wynn said by acting now, Australian industries could increase productivity and cost efficiencies.

“The manufacturing sector could maximise its local manufacturing capabilities, creating jobs and adding value to Australia’s growth sectors,” Dr Wynn said.

Longer term opportunities are also identified as Australia starts to take steps towards building a resilient and future-proof economy from 2022 and beyond.

For example, Australia has huge opportunities to meet growing global energy demand and influence how this demand is met, including through low emission energy sources and creating the world’s first clean hydrogen energy export industry.

The report consolidates key findings from CSIRO’s industry roadmaps and the Australian National Outlook to provide a timely update on a path towards a brighter future for Australia.

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