Confidence changes to the Overseas Investment Act is a sign New Zealand is open for business

The Government's proposed reform includes making investment decisions in 15 days - aside from those for residential land, farm land and fishing quota, and any contrary to national interest.

BusinessNZ says our settings for foreign investment are among the most restrictive in the OECD.

Chief executive Katherine Rich says as a result, we end at the back of the queue for investors.

She says some investors have told her if they'd have known how tough our overseas investment processes would be, they never would've started it.