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What is the full form of FIRB?

Published in Foreign Investment 1 min read

The full form of FIRB is Foreign Investment Review Board.

The Foreign Investment Review Board (FIRB) is a non-statutory body that advises the Australian Treasurer and the Australian Government on Australia's foreign investment policy. It was established in 1976. The FIRB reviews proposed foreign investments in Australia and makes recommendations to the Treasurer on whether those investments should be approved, taking into account the national interest.

The FIRB plays a crucial role in ensuring that foreign investment benefits Australia by:

  • Supporting economic growth and development
  • Promoting competition
  • Ensuring fair and equitable treatment for all investors
  • Safeguarding Australia's national security interests

The FIRB's recommendations are not binding, but the Treasurer generally follows them. The Treasurer makes the final decision on whether to approve a proposed foreign investment.