Tate: China drama won’t hurt Coast

GOLD Coast Mayor Tom Tate insists there are plenty of foreign investors lining up to pour money into the Glitter Strip, saying that the city is not reliant on Chinese foreign investment.

Earlier this month the Chinese government issued new rules on overseas investment which banned Chinese companies backing foreign casinos and “heavily restricted” investment in property development.

Yesterday Cr Tate said a number of countries were interested in the Gold Coast.

“One thing about the city of Gold Coast, when one specialised investor quits another one’s willing to jump in place,” Cr Tate said.

“I would predict Singapore, Taiwanese, Japanese and I think the Middle East markets will be the next bunch of people wanting to invest here.

“One might go a bit softer but it’s our job to say the Gold Coast is one of the best regions in the world to invest in.”