In accordance with section 4 of the Foreign Investment Reform (Protecting Australia’s National Security) Act 2020, the Treasury is conducting an evaluation of the foreign investment reforms that commenced on 1 January 2021. The review is required to be completed by 10 December 2021.
The evaluation is considering the impact that the reforms and their implementation have had on foreign investment in Australia and the broader Australian economy, and whether the right balance is struck between welcoming foreign investment and protecting Australia’s national interests.
Consultation in support of the Treasury’s evaluation is now open. Recognising that the reforms have been in place for only a short period, and that relevant impacts may take some time to become more apparent to stakeholders, the Treasury will invite stakeholders to make formal submissions to the evaluation later in 2021. The Treasury will also review the terms of reference before doing so, to ensure they remain suitable. Further details on the process for making a formal submission will be advertised on this consultation webpage and via the FIRB website.
In the meantime, the Treasury is continuing to engage with stakeholders to improve understanding of the new laws and their implementation.
Enquiries relating to the evaluation process can be emailed to: FIRBStakeholders@treasury.gov.au.
General enquiries regarding the new foreign investment laws should continue to be submitted to: FIRBEnquiries@treasury.gov.au.