Victorian Chamber of Commerce and Industry acting chief executive Amelia Bitsis has criticised the Victorian government’s decision to scrap a $20 million fund aimed at boosting future industries, calling for greater transparency and accountability.
According to The Sydney Morning Herald, the Victorian Industry Development Fund (VIDF), announced in 2024 to support sectors including advanced manufacturing, health technology, digital technologies, agribusiness and the circular economy, has been discontinued without distributing any grants.
Funding has been redirected into a broader $150 million program – the Victorian Investment Fund (VIF).
Bitsis said the chamber had worked closely with government on the initiative and was disappointed by its cancellation.
“We have been consistently asking for greater transparency and accountability for the initiatives and targets outlined in the economic growth statement and this is just another example of why that is needed,” she said.
She also warned that removing targeted support could weaken business confidence at a time when many firms are facing rising costs and uncertainty.
The Allan government defended the decision by arguing the initiative’s objectives would instead be delivered through the broader $150 million VIF. A government spokesperson said the revised program would focus on attracting “strategic, high-value investments” across Victoria, supporting innovation, expanding industry capability and strengthening supply chains in priority sectors.
Source: Sydney Morning Herald.
