Connect with us

EU

#ForeignInvestmentScreening - New European framework to enter into force in April 2019

SHARE:

Published

7 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

The Council of the EU has approved a new framework to screen foreign direct investments coming into the European Union, thus concluding the legislative process. Based on a Commission proposal presented by President Juncker in his 2017 State of the Union Address, the new framework will help safeguarding Europe's security, public order and strategic interests.

In reaction to the Council's decision President Jean-Claude Juncker said: "The decision is a proof the EU is able to act quickly when strategic interests of our citizens and economy are at stake. I committed to work for a Europe that protects, in trade as in other areas; with this new legislation in place we are delivering on a crucial part of our promise.”

Trade Commissioner Cecilia Malmström said: “I'm very pleased with the Council's decision. The EU gains a lot from foreign investment and it plays a vital role in our economies. However, we have seen a recent increase in investment in our strategic sectors and this has led to a healthy public debate on the issue. With this new framework we are in a much better position to monitor foreign investments and safeguard our interests. I now look forward to working closely with member states to implement this new legislation effectively."

Following the approval by member states in the Council and the positive vote by the European Parliament on 14 February, the new EU legislation establishing an EU-wide investment screening framework is now set to enter into force in the coming weeks.

For more information see the press release and a factsheet presenting the new framework.

Share this article:

Share this:
Related Topics:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending