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New Zealand tightens foreign investment rules
Posted Date:-11/19/2019 5:17:29 PM

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New Zealand has tightened foreign investment rules in strategic assets. Foreign investors hoping to buy strategic assets will now have to convince the government that it is in the national interest.

 


Associate Finance Minister David Parker said the new rules would give the government the power to reject foreign investment in sensitive areas for the first time. He said the rules would apply to critical infrastructure including ports and airports, telecommunications and power networks, as well as supplying companies or intelligence agencies developing military technology. He said that the government can stop foreign investment in media firms if they are a threat to democracy.

 

Mr Parker further clarified that the new powers are not aimed at investment from China, which is New Zealand's largest trading partner. He said that this would apply to all foreign investors, regardless of where they are from.




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