As Australia’s most densely-populated state, Victoria is a melting pot of different cultures all over the world with Melbourne being the go-to destinations from individuals in various walks of life with their own purpose. This self-governing state was named in the Honor of Queen Victoria who helped in gaining their independence from New South Wales. The state offers an entourage of experiences from their wildlife to their ecstatic love for cricket.
From a demographic standpoint, Victoria has always been supplemented with an influx of migrants around the world specifically in southeast Asia, eastern and southern parts of Europe, and the middle east. Furthermore, the greater Melbourne metropolitan area houses almost 4.17 million people where more than 75 percent of Victorians live there. The state is also considered to be the most urbanized state in Australia where 90 percent of residents are staying in cities.
The economic diversity of Victoria has always been one of its strongest assets that attract a wide-array of investors around the world. The state has over $293 billion in GSP (Gross State Product) at current prices. This state is the second largest economy in Australia. The financial and property services have been the main contributors of Victoria’s rising GSP. Furthermore, the commercial, social and personal services, Whole sale and retail trade, are also part of the equation of the growth of the state with the manufacturing sector as one of the largest employer and producer.
Moreover, the commercial ports of Victoria are also one of the key cogs of the state’s economic growth. It serves as a point of transport that would expand Victoria’s network to the global economic arena. Victoria has four commercial ports-Melbourne, Geelong, Hastings, and Portland with Melbourne being the largest container and general cargo port. The port also handles fruits and vegetables, electrical equipment and other machinery.
The Department of Economic Development, Jobs, Transport and Resources of the state of Victoria handles freight projects to regulate and safeguard the movement freight on the road, rail and port systems of the state. With a need for an effective transport system that will be able to efficiently move people and goods in and around Victoria, the Transport For Victoria was established. It is a transport agency that coordinates with the ever-growing transport system that aims to achieve the goals set by the Transportation Integration Act.
In the freight sector, the department created the Mode Shift Incentive Scheme (MSIS) which is an incentive program that incentivizes companies to pursue into containerized freight from road to rail. This aims to increase the efficacy and cost effectiveness in the sector that would lead to less congestion on roads and around port precincts. The Victorian Legislators has invested over $20 million over the course of four years for this.
When it comes to transport legislation, rules, and regulations, the department constantly creates and fortifies new and existing policies and regulations under the guidance of the Minister for Public Transport, The Minister for Ports, and The Minster for Roads.