Chinese investors to arrive in Victoria as part of a new initiative

A Victorian state government proposal that will see 206 overseas investors arrive in Melbourne, Australia, will begin on Tuesday ahead of next weekend's Australian Formula One Grand Prix.

The "Victorian Invitation Program" will host high-profile business leaders from 19 countries, with the overwhelming majority of them Chinese.

It is anticipated that 104 of the 206 delegates will be Chinese, representing the country's strengthening trade partnership with Victoria, which is worth a reported 14.5 billion U.S. dollars per year.

As part of the initiative, the overseas investors will be treated to a week of "hallmark events" that includes the Grand Prix, the Melbourne Food and Wine Festival and the Melbourne Fashion Festival.

Victorian premier Daniel Andrews, elected in November last year, hopes that by bringing foreign business leaders to local events, more jobs will be created across the state as overseas investment increases.

"I can sum up the inbound trade mission in three words: jobs, jobs, jobs," Andrews told Fairfax Media. "By bringing investors to our doorstep, we can show them the very best of what Victoria has to offer, like our strong economy and our talented multicultural workforce."

Previously, Victorian governments had sent local business leaders overseas as part of its flagship trade initiatives. But the Andrews government has instead taken an opposing view, bringing foreign investors to Melbourne.

Adem Somyurek, the Victorian minister for small business, innovation and trade, believes this approach will foster greater foreign interest in Victoria.

"The 'Victorian Invitation Program' is about promoting Victorian goods, services, expertise and technologies to a critical mass of international buyers," he said.

"Victoria has great standing and success in the global economy. We know our future is even brighter."