Newman Government will allow more foreign investment in Queensland to grow economy

DEPUTY Premier Jeff Seeney has declared the Newman Government will allow more foreign investment in Queensland to help grow the economy.

DEPUTY Premier Jeff Seeney has declared the Newman Government will allow more foreign investment in the State to help grow the economy.

Asked about the Federal Government's decision to approve the sale of south-west Queensland's Cubbie Station to a Chinese consortium, Mr Seeney said he was satisfied the issue was well considered.

"In my view foreign investment has always been part of growing the Australian economy and we will need foreign investment to grow the Queensland economy in the way that we want to see it grow over the next few years," said Mr Seeney.

"So I think we should be welcoming foreign investment, there should be safeguards built around it and from what I've seen of this particular exercise there are safeguards in place."

Federal Treasurer Wayne Swan announced on Friday he had approved the Foreign Investment Review Board's decision to sell Cubbie Station to a Chinese consortium for between $320 and  $350 million.

The announcement angered National Party Senator Barnaby Joyce, and St George locals who are concerned about how the sale will impact the area and neighboring properties.

Mr Swan said the buyers Shandong Ruyi had given undertakings on a range of matters including employment, water and management.

What do you think?  Should we allow more foreign investment in Queensland?  Tell us what you think in the comments section below.