From a trade and investment perspective, the COVID-19 focus has been on business continuation, including trade impacts and maintaining key trade relationships.
However, the Federal and State Governments still welcome foreign investment as a vital component in supporting jobs growth both now and in the longer term.
Temporary foreign investment changes were announced by the Treasurer on 29 March, with immediate effect.
This effectively temporarily reduces the threshold for requiring Foreign Investment Review Board (FIRB) approval to $0, down from previous levels of:
This change is to allow extra government oversight in the national interest at a time of actual and potentially distressed asset values.