Evaluation of the 2021 foreign investment reforms
The submission to the Treasury in response to the Evaluation of the 2021 Foreign Investment Reforms was prepared by the Foreign Investment Committee of the Business Law Section of the Law Council of Australia (the Committee).
The Committee recognises the important role that both the Foreign Investment Review Board (FIRB) and the Treasury play in administering foreign investment in Australia. While foreign investment often carries with it scepticism from the community, its benefit to the Australian economy is uncontentious and cannot be overstated. 1
The Committeee looks forward to working with the Treasury to ensure the overwhelming benefits of foreign investment to the Australian economy are achieved.
1 Productivity Commission, Foreign Investment in Australia (Productivity Commission Research Paper, June 2020) 52.