MILAN, Oct. 9 (Class Editori) - From next October 11, the EU is going to build a shield against foreign acquisitions. Starting from Sunday, this new regulation will be active: according to it, among the others, a member State must notify to all the other countries it is evaluating a foreign investment. A tool to safeguard the EU strategic interests, by ensuring, at the same time, that the EU market will remain open to investments, representatives from Brussels have reiterated.
"The EU will remain open to foreign investments", the EU Commission Vice President Valdis Dombrovskis has guaranteed. "In order to face the current economic challenges and safeguard assets, member States and the Commission must work side by side." The regulation, which entered into force in March 2019, does not aim at targeting any country in particular.
However, in the last years, the need of greater attention toward the investments arriving from China has increased in some capitals, in particular for the role played by huge state companies in the expansion campaign of the second largest economy worldwide. The mechanism provides for the States and the Commission to develop procedures addressed at allowing the States and the Commission to quickly react to concerns about possible negative impacts on the single market by foreign operations in one or more EU countries.
The EU has pointed out a series of sectors, which may be involved: strategic infrastructures, critical technologies, branches such as the one of raw materials, press and information. The decision of implementing and keeping national control mechanisms will remain in the competence of individual member states. The Commission will be allowed to provide opinions concerning different member states or when an investment may affect a project or a program of interest for the whole Union, such as Horizon 2020 or Galileo. (All rights reserved)
(Source:Class Editori)
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