Universities will play a major role in powering the development and growth of new industries, technologies and jobs under a legislated Future Made in Australia Act.
"Building a stronger economy to deliver a stronger future for all Australians requires the creation of new knowledge and skills," Universities Australia Chief Executive Officer Luke Sheehy said.
"Universities are central to this task - providing the highly skilled workers and the research and development to guide Australia through both challenges and opportunities in the coming decades.
"From breaking ground on infrastructure and building energy projects to mastering new technologies and adding new industries to our economic mix, universities have a key role to play.
"We welcome the Prime Minister's acknowledgement of Australia's universities and the need to open the door to a university education for more Australians, which will underpin our future prosperity.
"Our graduates and our researchers hold the skills, knowledge and ideas that will continue to power the economy, spur Australia's productivity and define Australia's success in the coming decades.
"The Australian Universities Accord final report includes a series of recommendations to underpin the expansion of university teaching and research and we urge the government to commit to these reforms that that will support our sector to continue delivering for the nation and our people."
