AMC’s Managing Director, Charlie Blomfield, was recently invited to participate in the Senate Economics Reference Committee Inquiry into the foreign investment review framework. Based on AMC’s experience with international investors, domestic project proponents and networks throughout various jurisdictions, the Committee was interested in a practical, first-hand account. An extract and the full submission can be found below.
“Australia was built on the sheep’s back, but it was funded by foreign investors. Foreign direct investment is essential for Australian agribusiness as we are sparsely populated, resource rich, export reliant and have a relatively small pool of available domestic capital.
Australia is a net exporter of high quality agricultural commodities. Producing these commodities is capital intensive and as with many of Australia’s key sectors, we are a net importer of capital. As we are net exporters of commodities and net importers of capital, it is important to consider that trade and investment go hand-in-hand. We can’t expect improved trade relationships without also fostering foreign direct investment. You can’t have one without the other.”
A copy of AMC’s submission can be found here: Senate Committee Inquiry FIRB _ AMC Submission 090316