Today the Council of the EU 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: "Today's 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.” Commissioner for Trade Cecilia Malmström said: “I'm very pleased with the Council's decision today. 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 today's 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.
