(AP) -- The Australian government announced
tighter controls on foreign investment in electricity grids and farmland
on Thursday, two years after Chinese buyers were blocked from
high-profile corporate takeovers in both sectors.
New restrictions will apply to foreign companies
bidding for Australian electricity transmission infrastructure and some
generators. Diversity of ownership of such critical national assets
safeguarded national security, Treasurer Scott Morrison and Home Affairs
Minister Peter Dutton said in a joint statement.
"The government is committed to an open foreign
investment regime that strikes the right balance in managing national
security risks, while promoting job opportunities and enabling economic
growth," the statement said.