Foreigners Bought C$8.51 Billion of Canada Securities in June

“With over 40 per cent of gross overseas investment concentrated in agribusiness, energy, and large scale real estate, New Zealand is losing ownership of the building blocks of our economy”, Mr Shaw said.

Mr Little accused the OIO of not following up on foreigners they allow to invest in New Zealand.

But Mr Key says the amount of productive land being sold to overseas investors isn’t alarming.

“Labour is pro-foreign investment when it offers more value – more jobs and more export dollars”.

“Labour would also ensure that a register of foreign owners is constructed and maintained so all New Zealanders can easily access information around who is buying our land”.

“New Zealanders need to know that overseas investment in our land is good for the country and not just turning rural and provincial communities into tenants in our own land”, says Stuart Nash.

Canada was the biggest in terms of foreign direct investment (value) – this involved the acquisition of 18 AMP Capital Property assets by a government pension fund, and an investment in forestry in the years studied.

“I think there’s an important role for the OIO to make sure that the promises made about additional jobs and better incomes are actually followed through on”, he said. Numerous investments were in processing and sectors which added value to commodities.

Green Party co-leader James Shaw is also anxious about the sale of productive land to offshore interests.