• AST GVT issued consultation on its evaluation of the 2021 foreign investment reforms.
• Follows AST FIRB February 2021 started evaluation of investment reforms.

Foreign Investment Reforms

• Reforms updated the framework in 3 broad ways: addressed national security risks; strengthened existing system; streamlined investment in non-sensitive businesses.
• Reforms set up a framework to establish a register of foreign ownership of Australian assets, and are supported by extra funding for Treasury to upgrade foreign investment case management system, uplift capability as Australia's foreign investment regulator.
• To help inform the evaluation, the Treasury has invited interested stakeholders to submit written submissions on the operation and performance of the reforms.

Evaluation

• AST Treasury is conducting evaluation of the operation of foreign investment reforms that commenced on 1 January 2021, which is required to be completed by 10 December 2021.
• The evaluation is considering the impact that the reforms and their implementation have had on foreign investment in Australia and the broader Australian economy.
• And if there is balance between foreign investment and protecting national interests.

Effectiveness

• Deadline for comments on evaluation of foreign investment reforms is 31 August 2021.