The Overseas Investment Office needs to tell the public when it will come to a decision about Shanghai Pengxin’s bid to buy the Crafar farms, Green Party Co-leader Dr Russel Norman said today.
The Shanghai Pengxin bid, for the central and southern North Island Crafar farms, has been waiting eight months for an answer from the Overseas Investment Office. Most applications take around 50 working days.
“Given the proximity of Christmas, it would be in the public’s interest to know when exactly the Overseas Investment office will make its final decision on Shanghai Pengxin’s bid,” Dr Norman said today.
“The implications of the Overseas Investment Office giving Shanghai Pengxin approval to purchase the Crafar farms will be significant for the future of all other land sales.
“A successful bid by an overseas company for a significant chunk of New Zealand’s productive farmland will have implications for our future as a nation which relies on dairy for export earnings.
“Having overseas companies control all levels of the dairy supply chain can’t possibly be in New Zealand’s economic best interest,” said Dr Norman.
“Announcing any decision a day or two before Christmas will likely stifle public debate on an issue which has vital significance for New Zealand’s economic sovereignty.
"The Green Party considers that New Zealand land should remain under the ownership of New Zealand citizens or permanent residents and shouldn't be sold into foreign ownership.”