CANBERRA, Nov. 13 (Xinhua) -- Australia's quantum technology industry is projected to be worth billions of dollars to the economy within decades, a government report has found.

The federal government on Wednesday published the first State of Australian Quantum report, charting the progress of the National Quantum Strategy.

The strategy, which was launched in May 2023, set a goal of Australia becoming a recognized global leader in the quantum industry by 2030.

According to Wednesday's report, the country's quantum technology industry will be worth a projected 6 billion Australian dollars (3.9 billion U.S. dollars) annually and employ 19,400 people by 2045.

Australia's Chief Scientist, Cathy Foley, wrote in the report that progress and momentum over the period since the launch of the national strategy has put Australia in a great position.

"In Australia, quantum is no longer a laboratory curiosity for the quantum intrigued: we are actively seeing the adoption of quantum technologies across broad industry sectors," she wrote.

The report found that Australian-headquartered quantum businesses have received at least 179 million Australian dollars (116.7 million U.S. dollars) in private investment since the launch of the national strategy.

In the same period, the federal government has earmarked 1 billion Australian dollars (652.4 million U.S. dollars) for critical technology companies, including quantum companies, through the National Reconstruction Fund.

The state government of Queensland and the federal government in April awarded U.S.-based technology firm PsiQuantum 940 million Australian dollars (613.4 million U.S. dollars) in grants, loans and equity to establish its Asia-Pacific headquarters and build the world's first commercial-grade quantum computer in Brisbane.

However, local media has reported that new Queensland Premier David Crisafulli, who won power in October's state election, is considering withdrawing from the deal.

Asked about the investment on Tuesday, Prime Minister Anthony Albanese said the deal would position Australia for the future.

"There's a first-mover advantage in areas such as this and Australia can't afford to sit back and watch other countries get ahead of us in an area where we have this enormous opportunity," he told reporters.

The new report from the Department of Industry, Science and Resources described the PsiQuantum deal as a major step forward for the growth of the Australian sector. Enditem

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