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European Australian Business : 2008
Over the past decade, Victoria has emerged as a truly 21st century- focused State with a unique mixture of strengths. We are Australia’s research and development capital, home to key infrastructure like the Australian Syn- chrotron and global research centres for the world’s leading automotive and pharmaceutical companies. In advanced manufacturing, Victoria is the centre of Australia’s automo- tive industry. It designs components and supplies engineering services for Airbus and air traffic management systems across the globe including in China, Taiwan, Vietnam and Saudi Arabia. In biotechnology, we have achieved global leadership in areas such as stem cell research, cancer research and neuroscience. Victoria’s capital, Melbourne, has now joined London and Boston as one of only three cities in the world with two universities holding global top 20 biomedicine rankings. Melbourne is also at the centre of Australia’s highly sophisticated funds market, now the world’s fourth largest market for managed funds – worth around A$1 trillion and bigger than Italy, Germany or the UK. Our design, planning and environmen- tal technology clusters are leading major urban development projects around the world. We are an interna- tional centre of excellence in key areas of design ranging from computer game development to graphic and industrial design. Victoria also has one of the world’s most productive agribusiness sectors, providing around a third of Australia’s food though the State comprises only three per cent of the Australian land- mass. Victoria exports food and wine to around 100 countries. Melbourne is also a global leader in staging major events. We are home to five of the six most significant annual sport events held in Australia, includ- ing the Grand Prix and the Australian Open Tennis. We host a regular calen- 38 victoria Flinders Street Station. (Image at top courtesy of Invest Australia)