Federal Minister for Indigenous Australians Malarndirri McCarthy says the government is "deeply committed" to working with Indigenous people to support economic empowerment and self-determination.

Speaking at the Supply Nation Connect conference, Senator McCarthy said the government's focus was on "unlocking opportunity and building prosperity," and pointed to its commitment to shared decision-making under the Closing the Gap agreement.

"Our government is deeply committed to working in partnership with First Nations people to support economic empowerment and self-determination," the notes of her speech read.

"This is about unlocking opportunity and building prosperity."

Earlier this month, Prime Minister Anthony Albanese used his speech at Garma to announce an economic partnership with the Coalition of Peaks and the First Nations Economic Empowerment Alliance.

"This builds on our commitment to the Closing the Gap Agreement, to its call for a new way of doing business and to the principle of shared decision-making," Mr Albanese said.

The deal will allow Traditional Owners to advocate for infrastructure, housing and energy projects on their land, and to build equity beyond land rights. Coalition of Peaks lead convener Pat Turner said the partnership put Indigenous communities in control of their economic future.

"Aboriginal and Torres Strait Islander people have been clear for decades that our community-controlled organisations are the best employers of our people, providing the foundation for our economic development," she said at the time.

Senator McCarthy said the new agreement would "focus on supporting First Nations people and organisations to leverage land and Native Title, boost skills and education, create jobs and back businesses".

"The Partnership will develop a comprehensive First Nations Economic Framework," she said.

"This reflects a new approach, one that aims to support greater independence, real empowerment and lasting economic security."

The NT Senator said it would also "improve the funding model for Prescribed Bodies Corporate to help Native Title holders to build capacity and work with the private sector to build wealth".

"At the same time, our government continues to support Indigenous businesses through initiatives like the Indigenous Procurement Policy (IPP), Indigenous Business and Employment Hubs, and the First Nations Clean Energy Strategy," she said.

Ms McCarthy described the IPP as a "game-changer," noting that around 80,000 contracts worth more than $12.6 billion have been awarded to more than 4,400 Indigenous businesses since 2015.

"This has helped stimulate entrepreneurship and enterprises across a range of sectors," she said.

Currently, First Nations businesses generate more than $16 billion annually, employ over 116,000 people, and are up to 100 times more likely to hire Aboriginal and Torres Strait Islander workers. With the right investment, their economic contribution could reach $50 billion a year by 2035.

"With the right support, they'll help build an economy that's fairer, smarter, and better prepared for the future," Labor Senator Jana Stewart said last week.

"Our economy is stronger when First Nations people are leading and shaping the solutions. Victoria shows what works when you back community-led ideas with real investment."

In the lead-up to the Treasurer's economic roundtable in Canberra this week, the government held multiple roundtables with First Nations businesses across the country.

Senator McCarthy said it was a "privilege to hear directly from First Nations businesses and organisations," calling it an "important opportunity to be part of the national conversation to help shape the discussions to come".

Her speech also addressed integrity, stressing the need to prevent "black cladding," where non-Indigenous businesses profit by posing as Indigenous-owned.

"We must ensure that businesses benefiting are genuinely Indigenous owned and controlled," she said.

"Because integrity matters and because every contract awarded under the IPP should be a contract that builds real capability and long-term success.

"We must go beyond compliance and embrace ambition. Because your ambition and your success is not just your own."