Overseas investment decision for case 201220012 - Forestry Fund 9 NZ Limited

An overseas investment in sensitive land located in Otago, being the Applicant's acquisition of a freehold interest in:

• 656.8851 hectares (Waitahuna Forestry Block);
• 209.4992 hectares (Glenore Forestry Block);
• 434.0451 hectares (Falla Burn Forestry Block);
• 739.7786 hectares (Wetherstons Road Forestry Block);
• 353.9073 hectares (Nugget Stream Forestry Block);
• 185.3890 hectares (Scroggs Hill Forestry Block);
• 89.5143 hectares (Christies Gully Forestry Block); and
• 343.9776 hectares (Moeraki Bush Forestry Block).

The Applicant is acquiring the land as a commercial forestry investment. The land is currently, and will continue to be, used as a forestry operation.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Creation/Retention of jobs
17(2)(a)(iii) – Increased export receipts
17(2)(a)(iv) – Added productivity
17(2)(a)(vi) – Increased processing of primary products17(2)(b) – Indigenous Vegetation/Fauna
17(2)(c) – Trout, salmon, wildlife and game
17(2)(e) – Walking Access

Overseas Investment Regulations 2005
28(a) – Consequential Benefits
28(c) – Affect image, trade or international relations
28(d) – Owner to undertake other significant investment
28(e) – Previous investments
28(f) – Advance significant government policy or strategy28(g) – Enhance the viability of other investments
28(i) – Economic Interests