Crafar decision helpful for future growth

Approval of the Crafar farms sale has been welcomed by BusinessNZ.

Chief Executive Phil O’Reilly says the decision will help provide clarity around the tests for foreign investment in New Zealand.

“Having disputed criteria around Overseas Investment Office rules is not helpful for gaining overseas investment.

“This decision helps provide the kind of certainty needed to obtain investor confidence in New Zealand.   

“It is to be hoped that all parties concerned will accept this decision and move on, with the task of growing the country’s productive sector.

“Today’s decision is an affirmation that New Zealand is open for business, recognising that foreign capital is needed to enable businesses and the economy to prosper and grow.”