Oct
25

New Zealand: “Extra Flexibility” for Foreign Investment

Author admin    Category Large Scale Farm News     Tags

The Government has tightened foreign investment rules around the potential sale of big chunks of farmland to overseas buyers in response to public concerns over the bid for Crafar farms.

Announcing the results of a long awaited review of the overseas investment rules and legislation, finance minister Bill English said the Government had decided against changes to the Overseas Investment Act but had introduced “extra flexibility” to consider a wider range of issues including large-scale ownership of farmland.

One measure is “a new ministerial directive letter to the Overseas Investment Office” which would provide “extra clarity and certainty for potential investors about the Government’s general approach to foreign investment in sensitive assets”.

“Overall, the measures I’m announcing today strike an appropriate balance. They increase ministerial flexibility to consider a wide range of issues when assessing overseas investments in sensitive land, while at the same time they provide extra clarity and certainty for potential investors and the Overseas Investment Office.”

Source: http://www.nzherald.co.nz/politics/news/article.cfm?c_id=280&objectid=10676419

For an in-depth understanding on the extent of impact from these new regulations in New Zealand for large scale farm investments, make a point to attend the 2nd Global Large Scale Farm Forum in Siem Reap on 30 November to 1 December 2010. Specially invited speaker, Mr. Ross Hyland, Managing Director of Seales Ltd, will provide his expert perspective on the opportunities and challenges framing the issue in:

“Dairy and Agribusiness Investment Outlook in New Zealand”

Download the program brochure for full topic outlines, or contact Ms. Grace Oh at grace@cmtsp.com.sg for registration queries.

Post comment