The NSW Government is continuing its push for Sydney to be the financial services hub for the Asia Pacific and has designated Barangaroo to become Australia’s version of London’s Canary Wharf.

The NSW Government outlined the ambitious proposal during a financial services summit in Sydney on Friday, where NSW Minister for State Development Ian MacDonald said the State was targeting key global financial institutions to attract investment to Sydney.

He said the State Government was committed to developing Barangaroo as a potential future financial services precinct for NSW, Australia and the region.

“We are aiming to create Australia’s version of Canary Wharf or the Dublin Docks financial precinct,” MacDonald said.

The State Minister’s comments came after Federal Assistant Treasurer, Chris Bowen, said that both the Federal and NSW Governments were focused on promoting the financial services sectors in what he described as the key international markets of the US, China and India.