A re-elected Labor government would create a dedicated minister for business position to help steer Canberra's recovery from the coronavirus-induced economic slump.
Chief Minister Andrew Barr has confirmed he will split the existing Minister for Business and Regulatory Services portfolio into two separate positions if Labor wins another term after October 17's poll.
Mr Barr said the minister would be tasked with helping to oversee the implementation of the government's $4.9 billion economic recovery plan.
Industry groups have been lobbying the Barr government to create a stand-alone business portfolio, arguing the position is needed to ensure the private sector's concerns are heard around the cabinet table.
Responsibilities for business-related issues are currently shared across at least four portfolios, which groups such as the Canberra Business Chamber and the ACT Property Council say creates confusion and inefficiency.
Property Council executive director Adina Cirson called for the position as recently as Tuesday, after news broke that Singapore Airlines would cease flights between Canberra and Singapore.
"If we had a single business minister devoted full-time to the business of promoting business in the ACT, that would help," Ms Cirson said at the time.
"One person leading a team of dedicated government officials focused solely on assisting businesses, and available every day to talk to the business community. We don't have that at present."
Ms Cirson welcomed news of Labor's plan, although she was keen to see more detail on the proposal.
"The frustration that people feel when dealing with government is that it seems to lack co-ordination," she said.
"What they need is a single entry point."
Canberra Business Chamber chief executive Graham Catt was similarly pleased with Mr Barr's commitment, which the lobby group had called for in its pre-election policy wishlist.
Mr Catt said the private sector needed a voice around the cabinet table now more than ever, as he feared this week's Singapore Airlines announcement was the precursor to further economic pain.
"If we think about the events of the past week, we are seeing more indicators that make us think that we are headed for tough economic times," Mr Catt said.
"We need someone who can focus on business issues, who is available, can advocate positions within cabinet and talk to other jurisdictions."