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Crafar farms sale to bring key overseas investment

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Crafar farms sale to bring key overseas investment

By: Newstalk ZB staff | New Zealand News | Monday April 23 2012 9:09

 

Who owns the land isn't important - we need economic activity.

This from the Institute of Economic Research about the sale of the Crafar farms to Chinese group Shanghai Pengxin.

The 16 farm deal has finally been given consent by the government after approval by the Overseas Investment Office.

Jean-Pierre de Raad says New Zealand is reliant on overseas investment.

"It doesn't really matter who owns the factors of production and the economic activity, what is important for New Zealand is that economic activity actually occurs here."

Mr de Raad says the $200 million sale is economically insignificant but sends an important message to overseas investors.

Photo: NZ Herald

 

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