Aussies worried about foreign firms: Joyce

Written By Unknown on Minggu, 13 April 2014 | 11.26

Agriculture Minister Barnaby Joyce says Australians are concerned about overseas investments. Source: AAP

AUSTRALIANS are naturally concerned about foreign government-owned firms buying local assets, Agriculture Minister Barnaby Joyce says.

And the Nationals MP says he will make a case to block any sales that aren't in the national interest.

Prime Minister Tony Abbott has flagged easier access for Chinese state-owned enterprises investing in Australia on a recent visit to Shanghai.

He has floated the idea of raising the cap on Chinese investments from $248 million to $1 billion before it came under investment scrutiny.

But there would be limits on agribusiness buyouts of $15 million before it came up for the Foreign Investment Review Board's scrutiny.

However, Mr Joyce said Australians were naturally cautious about foreign government-owned firms buying local assets because they held the interests of their own governments.

It would be arrogant of politicians to disavow people of those concerns.

"I'm always going to stand up for where I believe our national interest needs protection or where there are sensitivities that should be taken on board," he told Sky News on Sunday.

Unsurprisingly, the Nationals MP had reservations about foreign state-owned firms buying prime agricultural farmland.

"That's where I think you have to be guided by a sense of pragmatism," he said.

Mr Joyce said the prime minister's comments were general proposals that would be discussed further in cabinet.


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