Labor to fast-track foreign investment to help fund future industrial policy
by Peter Hannam Economics correspondent from World news | The Guardian on (#6MF1N)
Treasurer Jim Chalmers will set a target of 30 days to clear cases as he seeks money for build-to-rent and energy transition
Foreign investment approvals will be made quicker but greater scrutiny will be placed on potential risks as Australia tries to balance economic and security interests, treasury Jim Chalmers will say on Wednesday.
Treasury will set a target to process half of foreign investment cases needing approval within 30 days after from next January, Chalmers will tell the Lowy Institute in Sydney. It will also seek more funds from abroad to support so-called build-to-rent housing ventures and the energy transition off fossil fuels.
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