Australia will look to new markets for offshore investors, including partnering with European and Japanese firms on mRNA vaccines and clean hydrogen projects, to compensate for a rapid decline in foreign investment from China.can reveal the Department of Foreign Affairs and Trade has begun work on a plan to diversify foreign investment, partly based on the strategy Canberra has already adopted to shift its export markets asMining is Australia’s largest destination for foreign direct investment.
There is growing concern within the federal government that it will fail to secure investment in emerging industries such as hydrogen and space unless it finds new sources of FDI. The government also wants to shore up critical supply chains that have been exposed by the COVID-19 pandemic. Both sides of politics have talked of the importance of diversifying foreign investment. But over the past two decades there has been little change.
There was 10 times more foreign investment out of the British Virgin Islands than Spain which is the world’s 14th largest economy. There have also been large increases since 2001 out of Jersey, the Cayman Islands and Bermuda.Mining is by far the largest home for foreign investment in Australia, followed by real estate and financial sectors.
Gallo_Ways swrighteconomy China accounts for merely 2% of all investment.