A focused Xeno-FIRBThe Greek word “xenos” refers to foreign, so when combining it with “phobia” (fear) – it refers to a fear of foreigners. But is there any reason to be phobic? Australia’s Foreign Investment Review Board has sent some very mixed messages last week in relation to the Kidman Sale, Darwin Ports, and NSW power asset Transgrid.
In line with a recommendation from the Foreign Investment Review Board, Treasurer Scott Morrison has said the federal government will refuse to authorise the sale of Australia’s largest cattle holdings, S. Kidman & Co to foreign buyers. The properties, which span Queensland, South Australia, the Northern Territory and Western Australia, account for 1.3 per cent of Australia’s total land area and 2.5 per cent of agricultural land.