Macfarlane said: "Manufacturing is the economic engine room of the South Australian economy and contributes around ten per cent to South Australia's Gross State Product.
"To ensure its future remains secure in a competitive, global marketplace, South Australia's manufacturing sector must get smart and savvy and gear towards its strengths.
"The sector is vital to this State, but like any good engine, it must keep fine tuning its systems, keep updating its technology and keep reviewing its performance and productivity if it is to keep powering forward.
"Wednesday (5 February 2014) I will chair a high level panel made up of local business leaders and politicians who will discuss these challenges and hear from local businesses representing a variety of sectors including advanced manufacturing, engineering, electrical, defence and biotechnology.
"These views will help inform our industry policies, which must be proactive to ensure that our manufacturing sector is globally competitive in order to create jobs and investment.
"The Australian government is committed to supporting South Australians impacted by last year's Holden announcement, but our response will be strategic and methodical, in place of the patchwork of hand-outs and subsidies favoured by our Labor predecessors."
The South Australian panel includes Senior South Australian Federal Minister Christopher Pyne MP, Senator for South Australia Simon Birmingham, ANZ South Australia chairman Jane Yuile, respected South Australian business figure Robert Champion de Crespigny AO and South Australian Economic Development Board chair Raymond Spencer.
The South Australian review follows on from a similar forum held earlier this month in Victoria and will help direct a dedicated $100 million growth fund across both States.
The reviews will also guide the development of a broader 'National Industry Investment and Competitiveness Agenda' which will make recommendations to the government by June.
