JAPANESE ambassador to Australia Shingo Yamagami has once again strongly criticised the Queensland government’s July decision to raise coal royalty rates without properly consulting long-term Japanese investors such as the Mitsubishi group.
“Japanese companies see Australia not as a house, but a home,” he said.
“This is why the decisions like the Queensland Government’s coal royalty hike carry so much potential risk.”
“I stand by my comments that the royalty hike has affected trust Australia has built up with Japanese investors.”
“There was no prior consultation between this State Government and the mining industry when these measures were taken.”
“Consultation is of utmost importance."
“What they (Japanese companies) are saying was they are willing to contribute to the local economy and that’s what they have been doing.
“It shocked them like a bolt out of the blue”
Source/image: In Queensland