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Australian authorities to check every proposed foreign investment during coronavirus crisis
Government addresses concerns that distressed Australian assets could be vulnerable amid the economic fallout
All proposed foreign investments into Australia are to be checked, as the government seeks to protect distressed Australian assets from the economic fallout of the coronavirus crisis.
The government has not frozen foreign investment, but will subject all foreign investments to an approval review, regardless of the value or the nature of the investment. The Foreign Investment Review Board will extend its review timeframes from 30 days to six months, as it works through the government’s new measures.
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