AUSTRALIA---DOORS ARE OPENED FOR FOREIGN SUPERMARKETS
The Federal government is going to make it easier for companies like, Wal-Mart. Costco, Aldi and Tesco to set up in Australia. The changes announced by Federal Treasurer ,Chris Bowen are in a government bid to drive down inflation.
As the current laws stand foreign investors have only one year to start construction after the purchase of land, this was to prevent foreign companies engaging in property speculation,
The new Bill being presented to Parliament will allow 5 years to commence a large development.
The German company Aldi have opened 167 stores in NSW and QLD, Franklins, the South African company have 80 stores in NSW and will benefit from the new laws.
Coles and Woolworths control 50 pc of the food market in Australia at the present time.
Wal-Mart the US owned company have shown interest in the Australian market for some time, they are the worlds largest supermarket