Agriculture Minister Joel Fitzgibbon has strongly suggested the federal government will approve a proposed takeover of GrainCorp by American-based food processing company Archer Daniels Midland, during a speech at the Australian Grains Industry Conference. "I am a believer in competition, in the market, and that we should embrace foreign investment," Fitzgibbon said. "That might give you some hint of my initial views on this issue; be discerning and choosy but do not fear foreign investment – it represents an enormous opportunity for us and we cannot hope to be the main provider of food for the growing middle classes of Asia without it ." BCA backs infrastructure investment Business Council of Australia president Tony Shepherd has backed the federal government borrowing money to help close Australia's $750 billion infrastructure shortfall, so long as the nation's AAA credit rating is not put in jeopardy. "There is such a thing as good debt, and there is such a thing as bad debt.