Changes to Foreign Investment Framework
The Federal Government has made changes to the foreign investment review framework. This is designed to protect Australia’s national interest as we deal with the economic implications of the coronavirus.
Federal Member for Page Kevin Hogan said all proposed foreign investments will require approval, regardless of value or nature.
“The change will be achieved by reducing to $0 the monetary screening thresholds for all foreign investments,” Mr Hogan said.
“This is about protecting Australian business and Australian jobs.”
“By reducing the foreign investment thresholds, it will ensure appropriate scrutiny over all proposed foreign investment during this time.”
“This is not an investment freeze. We are open for business and recognise investment at this time can be beneficial if in the national interest.”
“The Government will prioritise urgent applications for investments that protect and support Australian business and Australian jobs.”