Australia is in need of improving its energy policies if there is to be any increased investment, according to Andrew Liveris, chairman and chief executive of multinational company Dow Chemical.
If the policy framework is right, Mr Liveris says “the sky is the limit” regarding how much Dow would be willing to invest in Australia.
“We spend roughly $5 billion a year as a company,” Mr Liveris told The Australian. “A lot of that isn’t in Australia. A lot of that is in countries that actually get it, that actually understand how to put innovation-centric policies together and resource value-add policies.”
Dow Chemical currently spends between $30 and $50 million annually in Australia, which according to the chairman is “small in the context of what I’m doing elsewhere”.