SYDNEY: Australian Treasurer Wayne Swan announced an easing of foreign-investment rules yesterday as the nation looked to reassure investors that its door was open despite recent tensions over Chinese investment.
Swan said the rules would be changed to effectively fast-track investments by allowing more of them to go ahead without being vetted first by the Foreign Investment Review Board (FIRB).The FIRB, which critics describe as secretive and sometimes unpredictable, will remain the gatekeeper for key foreign investments such as China's recently failed US$19.5 billion (US$1 = RM3.49) tie-up with Anglo-Australian miner Rio Tinto.
Swan denied that his meant the new rules could actually discriminate against Chinese investment, which is predominantly from state-owned enterprises. State or sovereign investments are always reviewed by the FIRB, regardless of the size of the deal. - Reuters
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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