Australia PM Morrison: New foreign investment rules will protect Australia's interests

Ross J Burland FXStreet

Australian PM Morrison says foreign investment in Australia must be on our terms and on our rules. When asked about tensions with China, he says investment reforms should not add to them.

Key comments

Says new foreign investment rules will protect Australia's interests

Australia Treasurer Frydenberg says foreign investment critical to our economic prosperity.

Key comments

Says to create new national security test for foreign investment.

Says new rules to cover telecoms, energy, utilities, defence supply and data.

Says will be able to impose conditions, force divestment in special cases.

Says to streamline approval process for passive investments by foreign government funds.

Says investment reforms are most significant in 50 years.

Says have informed some our key partners about these reforms.

Says on planned black lives matter protests, there are health risks in gathering in large numbers.

Says health advice is that it is not a good idea to attend these protests.

Says coronavirus has had a massive hit on revenue side of the budget.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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