Australia should embrace foreign investment: Abbott

Tony Abbott has welcomed foreign investment from Indonesia
Tony Abbott has welcomed foreign investment from Indonesia Vicki Wood

TONY Abbott has welcomed foreign investment from Indonesia, saying the nation should "bring them on", if overseas businesses want to pour money into Australia.

The Prime Minister spoke to reporters in Jakarta after trade talks with Indonesian officials on Tuesday.

Despite concerns within the Coalition about an Indonesian Government proposal to buy 1.5 million hectares of Australian cattle land, Mr Abbott said he welcomed such investments.

He said Australia "always have, always will" welcome foreign capital, and in an Indonesia joint venture wanted to get the live cattle back up and running, "bring them on".

But, at pains to placate concerns about such investment with The Nationals ranks, he said there was still a process to go through.

"We want foreign investment in Australia, and 99 times out of hundred it is in Australia's national interest," he said.

"That said there is a foreign investment process. The threshold for foreign investment in agriculture land will be reduced to $15 million."

"But this is not designed to lock up our country; this is designed to ensure the foreign investment is in Australia's national interest."

Topics:  foreign investment indonesia tony abbott

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