PERTH (miningweekly.com) – The Major Projects Approval Agency, located in Darwin, was officially opened on Monday, aimed at providing a single point of entry for major project proponents seeking information and assistance with regulatory approvals, and making investment in Australia easier.

Industry, Innovation and Science Minister Christopher Pyne said the agency would use the expertise and knowledge gained from the already established Tasmanian office to create a strong major projects outlook for the Northern Territory.

“Investors currently face multiple hurdles when identifying the regulatory requirements for establishing new projects. This ‘single point of entry’ will work with major project investors to help streamline their regulatory approvals pathway,” Pyne said.

“The agency provides free services for eligible projects and works with domestic and international project proponents to make sure every box is ticked and projects can get off the ground quickly.”

Resources, Energy and Northern Australia Minister Josh Frydenberg said the agency would help further create an investment friendly environment in Australia’s north.

“With 40% of Australia’s land mass, but only around 5% of our population, northern Australia contributes more than 11% of Australia’s gross domestic product,” Frydenberg said.

“There is significant interest in investing in northern Australia.”

Frydenberg said that establishing the agency in Darwin would help reduce the burden of red tape for potential investors and further the government’s blueprint for the region established by the White Paper on Developing Northern Australia.

The White Paper included over A$1.2-billion in investment commitments, spread across over 50 policy initiatives and 15 commonwealth agencies.

“Using the expertise and agility of the Tasmanian office team, the agency has already worked closely with the A$1.5-billion prawn aquaculture project Sea Dragon and initiated contact with other potential projects around the Northern Territory,” Pyne said.

“The agency’s services will work closely with Northern Territory government departments and the Northern Territory Coordinator General’s Office to ensure that proponents have all the information they need on the regulatory approvals process.”