Description
Australia is generally welcoming to foreign investment. In 2014, the United States was Australia’s largest source of Foreign Direct Investment stock delivering USD 159 billion of investment or approximately 24% of all FDI in Australia. Australia is the United States’ 15th largest export market and third largest trading partner. U.S. direct investment in Australia is led by the nonbank holding, mining, finance and insurance companies, and manufacturing sectors.Foreign investment in Australia is regulated by the Foreign Acquisitions and Takeovers Act 1975 and Australia’s Foreign Investment Policy. The Foreign Investment Review Board (FIRB), a division of Australia’s Treasury, is a non-statutory body established to advise the Treasurer and the Commonwealth Government on Australia’s foreign investment policy and its administration. The FIRB screens potential foreign investments in Australia above threshold values, and based on advice from the FIRB, the Treasurer may deny or place conditions on the approval of particular investments above that threshold on national interest grounds.
