Foreign companies will be eligible for investments, loans and guarantees through the National Reconstruction Fund, Industry and Science minister Ed Husic has confirmed, following last week’s launch of the NRF Corporation’s investment mandate.
Mr Husic told InnovationAus.com that while the government’s “big focus is to grow Australian industry” – particularly to export scale – he said that the NRF Corporation would work with “a range of different companies”, which could include investment in “overseas firms” with operations in Australia.
The National Reconstruction Fund Corporation (NRFC) legislation requires the board to “make all reasonable steps” that investments are “at all times solely or mainly Australian-based”.
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