Genomics giant to set up Brisbane HQ

31 August 2016

Budget analysis, BDO

Invest Brisbane has officially welcomed Chinese-based BGI to Brisbane after the company chose the city for its Australian headquarters.

BGI, known as the Beijing Genomics Institute prior to 2008, is the world's largest genomics organisation, focusing on research and innovation in the life sciences field and with applications in the healthcare, agriculture, conservation and environmental fields.

Investment Brisbane General Manager Steven Silvester said the international life sciences sector continued to scope Brisbane for new investment opportunities.

"The decision by the Shenzhen-headquartered BGI to invest in Brisbane again reflects the attractiveness of the city regarding the availability of a highly skilled workforce, the number of quality university research institutions, and the overall ease of doing business," he said.

"Brisbane is becoming a city known for attracting and fostering talented Australians and immigrants, resulting in a diverse population that facilitates connections and trade with all parts of the world."

By 2030 China's middle class alone is forecast to reach 850 million people, and demand for medicine and health services to maintain their well-being will be unprecedented."

A key recommendation out of the Brisbane 2022 New World City Action Plan was to attract more regional headquarters from the Asia Pacific, and Brisbane will now be the Australian national headquarters of BGI.

Last year a delegation from BGI attended the Asia Pacific Cities Summit where an MOU was signed between Brisbane and the not-for-profit Shenzhen Foundation for International Exchange and Cooperation.

Mr Silvester said this move demonstrated the city's strong international relationships and was evidence of Brisbane's growing reputation as an international hub for business.

"Shenzhen is a key global city partner for Brisbane and one of our sister cities - I am thrilled we are continuing to develop this relationship," he said.