Originally published by Gary Shipway of the NT News.
20.07.2026
The Territory’s largest private investor Gina Rinehart has backed the Finocchiaro government’s call to the Albanese Government that it needs to unlock northern Australia’s dormant potential through Special Economic Zones.
In an opinion piece in today’s NT news, Ms Rinehart said more than 7000 Special Economic Zones operated successfully around the world.
She said a Special Economic Zone would be the catalyst for major economic benefits for Territorians and the north.
“When you lower taxes and free up investment in these zones, opportunities flourish, and take home pay would be free of personal income tax. Stamp tax and licence fee costs, would disappear,” she said. “More investment means more jobs, more production and revenue, higher living standards. Win, win, win. This isn’t ideology. It’s been proven across continents for nearly 50 years.”
Ms Rinehart said the NT and the rest of northern Australia had what the rest of the world wanted — land, water, agriculture, energy, and a front-row seat to the growing markets of Asia.
“The idea is simple: in a defined area, you cut the tax and cut the tape,” Ms Rinehart said.
“You create a one-stop prompt shop for approvals, a sensible regulatory system administered locally, that draws investment and skilled ones in rather than pushing them away. This works.
“China’s astonishing rise began with a single zone in Shenzhen in 1978.
“Our neighbours, Singapore and Malaysia are now building one together, twice the size of Singapore.
“Italy’s stagnant south is stirring back to life after opening eight of them. Three-quarters of the world’s nations use these zones.”
Ms Rinehart said for those who wanted to work and save for better lives, Special Economic Zones provided the opportunity if Australians wanted to move north to work.
Chief Minister Lia Finocchiaro told the NT News Future Northern Territory forum it was time for Canberra to understand that different population growth, migration and tax settings were needed in the north of the country.
“We need a carve out for northern Australia – settings built for the Northern Territory, North Queensland, and North of Western Australia, designed so people settle here and stay,” the Chief Minister said.
“We need special carve outs on taxation to support investment, trade, and develop in strategic regions and industries.
“Almost every developed economy on earth uses special economic zones to accelerate economic development in areas of strategic importance.
“Australia does not. The north is where that should change, within the Constitution’s limits,” Ms Finocchiaro said.
Federal Labor Member for Solomon Luke Gosling is also a supporter of a Territory Economic Development Zone.
“The underlying economic and strategic case has never been stronger for measures to help the Territory thrive,” Mr Gosling said.
