Australia has a world-leading regulatory environment for business. The World Bank ranks Australia 14th in the world for the ease of doing business. We are ranked 8th for the ease of starting a new business and 4th for ease of accessing credit.
That said, Australia is continually seeking ways to do better. Delivering a better regulatory environment will help business lower their costs, save time and improve their competitiveness, while maintaining safeguards to protect the environment, the public and consumers.
Continuing to advance a single domestic market for services across Australian states and territories will increase economic efficiency nationally. The ability for service providers to deliver services across state lines with little or no additional requirements would make it easier for them to reach the national scale from which to expand internationally.
COVID-19 has highlighted and accelerated the importance of the digital economy in Australia and globally. For Australia to become a leading and competitive digital economy, it is critical we have high-quality regulatory practices and standards that are fit for purpose and Allow for cross-border mobility of digitalised services and associated data, with appropriate protections.Show moreless