Home/Newsfeed

Australia to World: We Remain Open for Business

Share Print 0

Australia’s regulation on foreign investment has sparked debate as to how open the world’s 12th largest economy really is, but the country’s trade minister told CNBC on Thursday that the situation was being blown out of proportion.

Recent messages from Canberra suggest the government is increasingly taking a tough stance on foreign business interests controlling domestic assets such as farmland.

Treasurer Scott Morrison said in November that he would block the sale of Australia’s largest cattle property portfolio, S. Kidman & Co, to overseas buyers. And the government announced in February that it would launch a register of foreign ownership of water rights, citing data that showed foreign ownership climbed by 55 percent from 2010 to 2013. Australia boasts an advanced water-trading system whereby landholders can sell water on their property.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Back to Top