propaganda from the bracks gubbament, sounds like colonization by accountant

Tuesday, April 10, 2007

Minister for Industry and State Development, Theo Theophanous, today officially opened the Melbourne Asia Pacific Economic Cooperation (APEC) Finance Centre at Monash University, delivered thanks to a $1.4 million Bracks Government grant.

The new APEC finance centre will provide critical skills training for people who work in financial services for governments throughout the Asia-Pacific region in areas that have been largely neglected until now.

“This new centre will deliver training programs, symposiums and research to assist financial services regulators throughout our region,” Mr Theophanous said.

“Victoria plays a key role in Australia’s $1 trillion asset management market - the 4th largest in the world.

“Our State has developed significant strengths in several financial services areas, including education and training, administration, back office processing and in superannuation.

“The centre focuses on that expertise by offering dedicated financial services education to our neighbours.

“Using our experience, knowledge and skills we will help regulators from emerging markets such as China, who are currently facing challenges in risk management, governance processes and the arrival of private pension systems.”

Mr Theophanous said that the Bracks Government was supporting the initiative as part of its commitment to the local financial services industry.

“Currently the financial services sector is Victoria’s third largest, directly employing around 100,000 people,” he said.

“It contributes over $17.7 billion annually to gross state product and has attracted over $500 million of new investment since January 2003.

“The Bracks Government has been working with our financial services sector to ensure it continues to build on its impressive base and realises its potential.”

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