Billionaire immigrant Sir Frank Lowy has called on lawmakers to increase the immigration intake now that Australia's borders are secure.
The Slovak-born businessman, whose Westfield shopping empire was this year sold to a French property giant for $33 billion, says Australia is focusing too much on the problems and forgetting about the opportunities of immigration.
Making the country's immigration target an immigration cap was a move in the wrong direction, he said when delivering the Lowy Institute's annual Lowy Lecture in Sydney.
"We should bend that curve back upwards," he said in a written copy of Thursday night's speech.
"Let me say that I accept that our country is right to take measures to prevent illegal immigration.
"But now that our borders are secure I believe we can afford to be ambitious on immigration and generous towards refugees who come through the established processes."
Sir Frank acknowledged, however, that his way of thinking was now in the minority.
Lowy Institute Chairman, Sir Frank Lowy AC and former foreign affairs minister Julie Bishop. Source: AAP
A poll commissioned by the Lowy Institute - the Sydney-based think his family founded in 2003 - suggests 54 per cent of Australians believe the immigration intake is too high.
The annual Lowy Lecture has been delivered in recent years by German Chancellor Angela Merkel, former CIA director David Petraeus and News Corp chairman Rupert Murdoch.
Sir Frank on Thursday spoke of his own history as a migrant coming to Australia in 1952 and how he felt the country regarded him as a future citizen from the very start.
"The challenge now is to give new arrivals that same sense of a personal stake in this country," he said.
"Of course, new arrivals should be grateful but we don't need their gratitude. We need their hard work and their belief."
