The Chamber of Minerals and Energy of Western Australia (CME) said foreign investment has played a critical role in the development of the Western Australian resources sector over the past century, and will continue to do so.
“Intemperate comments on particular commercial arrangements can be damaging to the reputation of Australia as a secure investment location,” said CME Chief Executive Reg Howard-Smith.
“Foreign investment has been instrumental in the development of the resources sector in Western Australia. Linked to these resource projects are of course future jobs for Western Australian’s,” said Mr Howard-Smith.
There is more than $130 billion worth of resources projects either under consideration or in development in this state, projects that would simply not proceed without foreign investment.
“Australian companies and projects are competing globally to attract capital. All politicians have a responsibility to ensure Australia remains an attractive and competitive place to do business,” said Mr Howard-Smith.
Historically, the level of Chinese investment remains moderately low compared to traditional investors such as the United States, but it is increasing along with commodity demand.