Australian Businesses to Get Priority Tendering for $100 Billion in Government Contracts

From November, new procurement rules will lift the tender threshold and favour local suppliers.

Minister for Finance, Senator Katy Gallagher at the National Press Club in Canberra, Australia on March 7, 2024. AAP Image/Mick Tsikas

Australian businesses will soon be given priority access to nearly $100 billion (US$65 billion) worth of annual government contracts under new procurement reforms set to begin next month.

From Nov. 17, only Australian companies will be invited to tender for non-construction contracts valued below $125,000, and for construction contracts worth under $7.5 million.