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May 15th, 2012 
FAKE NEWS for the Zionist agenda Foreign investment approvals in Australia grew by 27 per cent in the last financial year, to be almost in line with pre-global financial crisis levels and reflecting ongoing interest in the resources sector.
In its 2010/11 annual report tabled on Tuesday, the Foreign Investment Review Board (FIRB) said approvals for proposed investment by foreign interests totalled $176.7 billion, and compared with the $181.4 billion seen in 2008/09 and before the impact of the global financial crisis hit.
As well, approved investment in real estate totalled $41.5 billion, up from $20 billion in the previous year.
This was largely due to the reintroduction of screening for temporary residents buying property, which led to a rise in the number of proposals approved from 3,897 in 2009-10 to 9,771 in 2011/10.
Proposed investment in other sectors grew 13 per cent to $135.2 billion.
Former FIRB chairman John Phillips, who retired in April, said the majority of business applications were in the resources sector, in line with previous trends.
The US was the biggest investor in terms of value approvals, accounting for 16 per cent of investment, followed by the United Kingdom, China, Canada and India.
Japan and Switzerland were replaced by Canada and India in the top five sources of proposed investment.
“This is the third consecutive year that China has been ranked in the top three sources of proposed investment and the first time that India has been ranked in the top five and mirrors increased trade with these two countries,” Mr Phillips said.
Mineral exploration and development applications accounted for 41 per cent of the value of approvals with $54.9 billion, excluding real estate applications.
Mr Phillips said the board had monitored policy issues surrounding the investment in agricultural land and businesses closely, coinciding with a number of parliamentary inquiries, hearings and proposals for legislative change.
Proposed investment in the agriculture, forestry and fishing sector decreased by value from $2.3 billion in 2009-10 to $1.4 billion in 2010-11, but the number of proposals was steady at 17.
The rejection of a proposed $8.4 billion takeover of the Australian Securities Exchange by the Singapore Stock Exchange was the first business proposal rejected since the proposed takeover of Woodside Petroleum Limited by Shell Australia in April 2001, the report said.
Investment in Australia’s ailing manufacturing sector increased in number from 46 to 50 but decreased in value from $16.3 billion to $14.9 billion the previous year.
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