A new Defence Industry Policy Statement was released by the Minister for Defence Materiel and Science on 25 June 2010.
The Defence Industry Policy Statement is underpinned by four key principles.
- Setting clear investment priorities: Australian defence industry investment priorities must be driven by endorsed strategic tasks (articulated in the Defence White Paper and Strategic Reform Program) for Defence and the ADFʹs capability needs that come from these tasks.
- A stronger Defence - industry relationship: Relations between Defence and industry must be based on clear communication between all parties and provide fair incentives for competition.
- Seeking opportunities for growth: Australian defence industry will be encouraged to identify and make the most of business opportunities within Australia and overseas.
- Building skills, innovation and productivity: Australian defence firms will have every opportunity to enhance their innovation, skilling and productivity. This is important for Australia's defence and will help to sustain viable defence industry enterprises into the future.