On 27 July 2021, AST GVT consulted on foreign investment reforms review.
- 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.
- 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.
- Deadline for comments on evaluation of foreign investment reforms is 31 August 2021.