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1.1 Russell McVeagh is pleased to have the opportunity to make a submission on the Overseas Investment (National Interest Test and Other Matters) Amendment Bill introduced on 17 June 2025 ("Bill"). We do so as an adviser to a wide range of investors into New Zealand across the full breath of the New Zealand economy, including infrastructure, energy, manufacturing, technology, agriculture and horticulture.
Further to the Government's announcement last year to reform the Overseas Investment Act 2005 (Act), Cabinet has now approved the details of the proposed reforms, with new legislation to be in place by the end of this year. This reform was a key commitment in the Coalition Agreement between ACT and The National Party as a driver of economic growth, and improved productivity.
As signalled in its most recent Ministerial Directive Letter, the Coalition Government has announced a plan to reform the Overseas Investment Act 2005 (Act) as part of its policy objective to encourage overseas investment in New Zealand.
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