PRIME MINISTER: Well, thank you very much for the opportunity to be here today. Can I join with everyone who's welcomed, of course, the Minister here to be with us today. Can I also welcome the Korean Ambassador who is here with us today; Jae-il Son, the Hanwha Defense President and Chief Executive Officer; and of course, Richard Cho, the Hanwha Defense Australia Managing Director. It's good to be here with you all today.
And of course, my colleagues who are here with me today, Senator Henderson and Senator Van. It's great to be with my colleagues. Can I also acknowledge that Stephanie Asher the Liberal candidate for Corangamite and Manish Patel, who's the Liberal candidate for Corio, who joined with us here today. Can I also welcome Major General Bottrell and those of the Defence Forces who are joining us, joining with us here today.
As always, I want to acknowledge the traditional owners of the land in which we meet today, their elders past and present, and of course, emerging. And as I always do want to acknowledge any members of the Defence Forces I have, who here with us today, veterans who are with us in our defence industries, our veterans are invaluable in ensuring the capability that we are seeking to achieve and are achieving with our Defence Forces in this country.
Today brings together a series of the Government's economic strategies. Of course, it's about realising the strengthening of our Defence Forces in a very uncertain world. What we have done over these years is to restore the capability of our Defence Forces, lifting our investment in our Defence Forces from the lowest level we had seen since prior to the Second World War, when we came to government to now just over two per cent of the size of our economy and growing. It also ensures a key element of our strong economic plan that has seen Australia come through this pandemic stronger than any of the G7 nations and similar, I must say, to the great and strong performance of the Korean Government, who have had a very similar experience during the pandemic, both saving lives and livelihoods. And with President Moon, I've discussed on many occasions and shared stories about how we have been managing the pandemic and indeed how they have and with President elect Yoon, I've also had these discussions. And the third element, is the partnerships, alliances and alignments that we've been pulling together over these last three and a half years in particular. This is about achieving a more stable and secure Indo-Pacific, and our partnership with Korea is central to those alignments and partnerships that we have in our region in the Indo-Pacific. And I'm looking forward to that only strengthening from here.
And I think today's announcement as we turn the sod on this important site puts proof to that relationship that we have developed. This has not happened overnight. There are decisions that have had to be made both in Korea and here in Australia in an uncertain time. You do business with countries that you trust and you do business with businesses that you know you can trust; that are aligned to how you see the world; that are aligned to ensuring a secure and free and open Indo-Pacific. And so the development of our defence capability here in Australia, we do with partners, you know, of course, of the historic agreement that we've been able to reach with the United States and the United Kingdom in AUKUS. This is a partnership, a defence agreement that is the most significant defence agreement Australia has entered into since, indeed, ANZUS 70 years ago. Our partnerships with our Quad countries with India and Japan, and of course, the United States - the first nation to have developed a comprehensive strategic partnership with the ASEAN nations. This has all been part of Australia's strategy to ensure we are forming the alliances and alignments and partnerships that together makes Australia stronger. And we are stronger together and we are stronger together because of this partnership. What is in fact, a commercial partnership when it comes to delivery of this important defence capability, but as we signed these agreements and the President and I observed and watched over those documents being executed when he was here last year, it spoke to a much bigger and more important partnership.
But here on the ground, and I love coming here, as Sarah knows in particular, because this is a field where I can look out on promises already delivered, whether it's the Avalon International Airport, which we said we would do. And there it stands, and you can see it. And I commend the Fox family for the great investment they've made in this part of Victoria, and we have stood with them to do that. And here we are standing today, delivering on yet another promise in moving forward with the Howitzer program, a program that delivers important jobs for this region. Jobs that are high-skilled jobs. Jobs that will create more jobs because of the capability that has learnt through the workforce that will work on this very site. The research, the technology, the digital skills, the technical skills, the collaboration that will be formed here will ensure that we're in a position to create even more jobs off the back of what they achieve here. As our defence industries continue to grow and continue to strengthen, giving us that sovereign capability that is also important to our security as a nation. So the ability to generate jobs through our defence industries - this is not something that has happened overnight. This is something that we've worked hard on as a Government, year after year, after year. As we've continued to demonstrate our commitment both to our Defence Forces and our sovereign capability to meet the needs of our Defence Forces in an increasingly uncertain and unstable world. And we're, of course, reminded of just how unstable and how uncertain it is with the dreadful and terrible events that are occurring in the Ukraine. And today, the six, C-17 leaves Australia, on its way to Europe to deliver those Australian Bushmaster that President Zelenskyy asked us for in Australian Parliament. And as soon as he asked, we said yes. And those C-17 takes the first of those to Europe today.
Approximately a hundred jobs will be created during the construction phase of this $170 million facility, with work planned to start in the second half of this year - so not too far away - and be completed in 2024. This will be undertaken by an Australian owned, Victorian based construction company. And once completed, a further 300 jobs will be created by the Howitzer Project through to the late 2040s. And this will provide a significant boost, economic boost to the Geelong region, which I know Steph Asher will be very pleased about, as will Manish. I'm pleased that companies around Australia will be part of the Howitzer supply chain, including Elphinstone down in northern Tasmania, where I was just a few days ago. And about a week or two ago, I was there visiting the very plant where they'll be providing supplies into what's being done here. So creating jobs in regional Australia, as well as where we stand just today. Elphinstone, who under enhanced industry package agreed with Hanwha, will manufacture the holes and turrets, creating an additional 55 jobs there in Tasmania.
But the third element of all of this is I've talked about our partnerships is what these increased weapons will be able to do for Australia. This decision will fill the capability gap, and frankly, a gap that was left by the previous Labor Government who cancelled this project. This new facility will produce Australian self-propelled Howitzers and armoured ammunition resupply vehicles that will constitute the ADF's protected mobile fires capability. So investing in our capability, investing in jobs and investing in the strength and security of our nation, as we continue to energise and build our Defence Forces in a very uncertain time. But, you know, I'm also pleased to be here because this is the fulfilment of a promise. We said we would get this done, when others walked away, and we are getting it done. And as we turn the soil here today, that is a further demonstration that the strong economy that we've been able to manage through one of the most difficult times that Australia has known since the Second World War - we've been able to keep up the momentum of keeping Australians safe and keeping Australia strong and keeping our economy strong. Because if you don't have a strong economy, you can't build these things, you can't do it, you can't do any of it. And it's the strong economy that we've been able to maintain through this pandemic, which enables us to keep Australia safe.
So, thank you to our Korean partners who are here with us today - I appreciate you making the effort to be with us here today. And thank you to all of those who've been part of this important project getting us to this day, and who will be important to us as we move forward, as the jobs get created and the capability is established. And I want to thank everyone for joining us on this very special day in our partnership and for Australia. Thank you very much for your time.
