3 Jun 2011

Treasury argues against foreign investor barriers

8:00 am on 3 June 2011

The Treasury has reiterated opposition to any barriers to foreign investment, saying the economy is highly dependent on foreign capital.

The debate over foreign ownership has intensified since Chinese companies have made bids for the Crafar Farms which are in receivership.

The rise in global food prices has prompted foreign investors to express interest in farms and agricultural processing plants.

Changes to overseas investment rules give the Government more control over whether foreign bids are approved, but Treasury argues no screening should be needed.