A new study from the Committee for the Economic Development of Australia (CEDA), released on Monday, has urged the Australian federal government to introduce a new “intra-company transfer” visa to assist multinational businesses in expanding their operations to Australia.
CEDA is a non-profit, independent, organisation providing thought leadership and policy perspectives on the economic and social issues affecting Australia. Though not guaranteed. It’s generally accepted that their opinions will be well regarded by those within the Australian Government who influence changes to Australian migration policy.
The report found Australia’s success in managing COVID-19 had made the country an attractive option for international students and skilled migrants. While top talent hubs like the US are implementing tougher rules for migrant workers, Australia is poised to benefit from the entry of skilled individuals whose competencies are in high demand.
With all that said, issues with the system needed to be fixed “over the next few months” to reap the full benefits.
CEDA chief economist Jarrod Ball said
“We should use this period to improve on our skilled migration system to ensure that when the borders open up again, Australia is the destination of choice for the best and brightest.. While many countries will try to impose permanent migration restrictions in the wake of COVID-19, Australia should resist such policies and promote migration as part of the national economic recovery.”
An ongoing Senate inquiry into temporary migration, established before the pandemic, has previously heard submissions calling for migration to be a critical part of Australia’s recovery. Australia’s net migration rate is set to drop by 85 per cent in the 2020-21 financial year.
Last week, the government announced a new priority skill list to lure specific temporary migrants to Australia, including nurses, doctors, construction managers and software engineers.
Those who fall under the 17 designated categories will be prioritised for a travel exemption allowing them to enter Australia, but will still be required to complete the 14-day supervised quarantine.
The Australian Federal government is already taking steps to bolster economic recovery with the help of a newly created task force, which aims to give high-value global businesses and their talent incentives to relocate to Australia.
The Global Business and Talent Attraction Taskforce is expected to expand the country’s current visa scheme for sponsoring overseas workers for highly-skilled niche positions that cannot be filled by Australian workers.
“Australia has always been an attractive destination for talent and investment, but given our relative success economically, from a health perspective, and socially, we will be even more attractive,” said Acting Immigration Minister Alan Tudge when he announced the plans.