Media release: Lochinver Station decision shows OIA not fit for purpose
Wellington (17 September 2015): The New Zealand Initiative today said that Cabinet’s blocking of the Lochinver Farm sale to Shanghai Pengxin shows that the Overseas Investment Act (OIA) is not fit for purpose. The decision goes completely against NZ’s international reputation as a place to do business, but is unfortunately consistent with New Zealand’s poor OECD ranking for openness to foreign investment. Read more