CANBERRA, ACT, May 19 -- The Treasurer of Australia issued the following media release:

The Albanese Government is further reforming Australia's foreign investment framework to make it work better for investors, our economy, and our national interest.

This second round of foreign investment reforms is all about making more improvements so the regime is much stronger where risks are high and much faster where risks are low.

It builds on our first round of reforms in 2024.

These reforms will increase certainty for investors and will lead to faster and fewer approvals, reduced regulatory burden, and improved tools to address high‑risk investment.

We want to unlock more investment that's in Australia's national interest and subject higher risk proposals to more rigorous scrutiny.

The reforms include:

* Setting a new performance target of deciding all low‑risk applications within 30days from 1January 2027.* Updating or removing ineffective conditions on existing foreign investment approvals.* Amending the foreign investment laws to further streamline and strengthen the foreign investment framework.* Streamlining the Register of Foreign Ownership of Australian Assets (the Register).

Changes to the foreign investment laws will include:

* Expanding exemption certificates to reduce regulatory burden on low‑risk investments by frequent low risk investors.* Eliminating approval requirements for some low‑risk transactions.* More agile compliance and enforcement powers to better respond to non‑compliance and avoidance.* Targeted narrow increases to screening requirements to better protect our most sensitive sectors and businesses.

Foreign investment is crucial to Australia's prosperity and we are committed to ensuring it is in Australia's national interest as well.

We are strengthening and streamlining Australia's foreign investment system to attract investment that drives economic growth, creates skilled jobs, and lifts competition and innovation.

We will continue to consult with investors, businesses and the broader community on the legislative changes and particularly to ensure changes to the Register balance government data needs with easing the regulatory burden on investors.

The Government has released an updated 'Australia's Foreign Investment Policy' and more information on the reforms is available on the Treasury website.

Disclaimer: Curated by HT Syndication.