<p>Sydney: New Zealand's government has agreed to principles that will guide proposed changes to the country's foreign investment laws, Associate Finance Minister David Seymour said on Saturday.</p>.<p>"Cabinet has agreed to the principles for reforming our overseas investment law," Seymour said in a statement.</p>.<p>"The new starting point is that investment can proceed unless there is an identified risk to New Zealand’s interests. This process will be guided by a government policy statement."</p>.<p>Under the principles, agreed by cabinet, the country's Overseas Investment Act would retain its current scope but be amended to fast-track an assessment process, he said.</p>.<p>The government would have flexibility to "call-in" investments for "detailed scrutiny on a case-by-case basis", according to the statement, which said the government aimed to pass legislation on the issue before the end of next year.</p>.<p>Seymour, part of a conservative coalition government that took office last year and has started undoing policies of previous governments, said "attracting more overseas investment is a vital part of the government’s economic strategy".</p>
<p>Sydney: New Zealand's government has agreed to principles that will guide proposed changes to the country's foreign investment laws, Associate Finance Minister David Seymour said on Saturday.</p>.<p>"Cabinet has agreed to the principles for reforming our overseas investment law," Seymour said in a statement.</p>.<p>"The new starting point is that investment can proceed unless there is an identified risk to New Zealand’s interests. This process will be guided by a government policy statement."</p>.<p>Under the principles, agreed by cabinet, the country's Overseas Investment Act would retain its current scope but be amended to fast-track an assessment process, he said.</p>.<p>The government would have flexibility to "call-in" investments for "detailed scrutiny on a case-by-case basis", according to the statement, which said the government aimed to pass legislation on the issue before the end of next year.</p>.<p>Seymour, part of a conservative coalition government that took office last year and has started undoing policies of previous governments, said "attracting more overseas investment is a vital part of the government’s economic strategy".</p>