The Assistant Treasurer announced on 23 April 2008 that the government will amend the foreign investment policy to extend the timeframe for the development of vacant commercial land from 12 months to 5 years. The announcement notes that the current time limit discourages new entrants and prevents existing foreign investors from expanding their business because they cannot secure forward purchase of land and complete all the statutory and commercial processes required to enable the development to commence within the 12 month limit.