Written by: Duncan B. on 20 May 2021
Australia continues to be a popular destination for foreign investment thanks to its stable economy, low interest rates and handling of the pandemic.
The MinterEllison 2021 Foreign Bank Tracker reveals that in 2020 North American banks grew their investment in Australian assets by 26%, Asian banks by 12% and European banks by 7%.
Meanwhile, PSP Investments, the Canadian-based pension fund which is already the biggest investor in Australian land and water assets, has just spent over half a billion dollars for one of the country’s biggest farming portfolios.
Australian Food and Fibre, a joint venture between PSP investments and the Robinson family of northern NSW, has acquired 100% of NSW cotton grower Auscott from its American owners. The deal includes 22,000 ha of developed irrigation land and more than 143,000 megalitres of water entitlements, five ginning plants capable of producing more than one million bales of cotton per year plus warehouses and a laboratory.
PSP Investments has over $180 billion worth of investments under its management. PSP recently told an Australian rural newspaper that it expects to double its investments in Australian agriculture over the next decade.
Statements such as this make the need for Australian Independence even more urgent!
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