BusinessDay: Visa 888 delays stall foreign investment In Australia

[opmi]

But Trade and Investment Minister Andrew Robb believes the money going into low-risk bonds makes no real contribution to Australia’s economic growth.

“If (the funds) are going to government bonds, which could be sold anytime and anywhere at a good price, Australia is getting nothing out of it,” Mr Robb told The Australian. “They just park money there for four years and got citizenship. It does not make a lot of sense to me from a public policy point view.”

Instead, the government wants to channel these new funds from wealthy investors — mostly Chinese nationals — into areas where companies are starved of capital such as start-ups, small-cap companies and early-stage exploration companies.

It's actually quite amazing that it took them so long to realise this

Bottomline is that the inflow should be sticky and create jobs ie FDI. Probably making it compulsory to be injected into a company structure with PnL reporting yearly hiring at least 3 australians kind of thing would be what policy makers should be looking at.

Should see from same SG type of policy mistake. But PAP govt took as long to realise this.




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[greengiraffe]

Politicians are all like that... don't they...

Just that when u have true demoCRAZY, then before anything can be done, the government gets turnovered and the process restarts itself again...

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