By Alasdair Pal

SYDNEY (Reuters) – Australia appointed Tesla (NASDAQ:) chair Robyn Denholm on Monday to steer a overview of the nation’s analysis and improvement efficiency, in an try to enhance financial development.

Denholm and three different panellists drawn from academia and enterprise will probably be tasked with making a extra purposeful method to R&D, together with strengthening hyperlinks between analysis and business.

“It has been virtually 20 years since we requested the onerous questions on our R&D efficiency, regardless of the alarming slide over the past decade,” Minister for Trade and Science Ed Husic mentioned.

“This overview is designed to present us an evidence-based pathway to stronger development.”

Australia is likely one of the world’s wealthiest nations, however is closely reliant on its sources industries for development and has lengthy struggled with diversifying its financial system.

A Harvard College index measuring financial complexity locations Australia 93rd out of 133 nations tracked, behind nations together with Uganda, Malawi and Laos.

Tesla chief govt Elon Musk, who will serve within the incoming administration of U.S. President-elect Donald Trump, has been closely crucial of Australia’s Labor authorities over its coverage in the direction of know-how corporations, together with a ban on the usage of social media for underneath 16s.

At a press convention asserting her appointment on Monday, Denholm was requested repeatedly about Musk and whether or not her relationship with him would assist easy relations between the Tesla founder and the Australian authorities.

“Right this moment is all concerning the R&D overview that the federal government has introduced,” she mentioned.

Earlier than turning into Tesla chair, Denholm held senior roles at U.S. know-how agency Juniper Networks (NYSE:) and Australian telco Telstra (OTC:). Final yr, enterprise journal Forbes ranked her the eightieth strongest girl on the planet.