The 'National Interest' test and thinking beyond COVID-19

An opaque and vaguely defined standard may hold the key to national economic recovery in the post COVID-19 era. The problem is that no one knows the exact contours of a ‘gatekeeper’ test that will enable foreign investors to inject much-needed capital into the Australian economy. Australia’s journey from the restrictive business investment model of the 1960s to the current liberal model of attracting foreign investment has been challenging. It has run into rough weather many times. Fortifying the national interest with new operative factors will help remove the vacuum created by the vague interpretation of operative factors.