AUSTRALIA: Government to boost transparency of Australian foreign investment in agriculture

Thursday January 19 2012

Assistant Treasurer Mark Arbib said the Government is improving the transparency of Australia foreign investment in agriculture with more regular and expanded surveys, as well as guidance on the factors currently considered in assessing foreign investment applications in this sector. Senator Arbib and Acting Agriculture Minister Simon Crean have released the Foreign Investment and Australian Agriculture report by the Australian Bureau of Agricultural and Resource Economics and Sciences and commissioned by Rural Industries Research and Development Corporation. Senator Arbib said the report provided a factual picture of existing Australia foreign investment in Australian agriculture and addressed community concerns in this area. Senator Arbib said the report emphasised that the current strong regulatory framework surrounding Australia foreign investment in agriculture protects the national interest and the current policy settings are providing a “considerable level of scrutiny of foreign investment proposals and operations of foreign-owned agribusinesses in Australia”. The modest cost of the expanded survey will be met from existing Government resources.

Click on the above link for more details.