The changes to foreign investment rules announced by the Government today are sensible given unprecedented disruption to the global economy and heightened national security risks, Business Council chief executive Jennifer Westacott said.
“The changes announced today will sensibly target the assets most critical to Australia’s national security, including key supply chains and infrastructure.
“Attracting the investment we need and protecting our security and sovereignty are not mutually exclusive.
“We are pleased the Prime Minister and the Treasurer also are focussed on ensuring Australia continues to be an open, trading economy because we need foreign capital to drive growth and create Australian jobs.
“We’ll need to ensure that low risk investments are streamlined and approved quickly so businesses can attract the global investment they need to get on with creating jobs at this critical time.
“We look forward to working with the government to get the balance right and create more jobs for Australians.”