Prime Minister Scott Morrison and Treasurer Josh Frydenberg announced the most “significant change” to the foreign investment law since its introduction in 1975, giving the treasurer greater authority to scrutinise foreign bids, amidst growing concerns surrounding Chinese investment in Australian assets.
Morrison and Frydenberg made the formal announcement on the morning of June 5 saying the reforms are in response to “evolving” technology and a more complicated “geopolitical climate.”
