Jonathon Duniam (Tasmania, Liberal Party, Assistant Minister for Forestry and Fisheries) Share this | Hansard source

Foreign investment supports economic growth and expands trade and investment opportunities for both Australian and foreign businesses. The Foreign Investment Review Board assesses applications against the foreign investment framework, which strikes a balance between ensuring Australia remains an attractive investment destination, maintaining community confidence in foreign investment and protecting Australia's interests. In formulating its advice to the Treasurer, the board consults with other government agencies, such as national security agencies, the Critical Infrastructure Centre and the ATO. Where appropriate, the board will consider matters of market manipulation, concentration and competition in consultation with the ACCC and matters relating to money laundering in consultation with law enforcement agencies and AUSTRAC. We note that the Senate committee inquired into the foreign investment review framework between 2015 and 2016. The government's response was tabled on 28 March 2017 and addressed all recommendations in the report.