Setting Up of the National Foreign Direct Investment Screening Office
In order for the provisions of the ‘Foreign Direct Investment Screening Office Act’ (Chapter 620 of the Laws of Malta) to be implemented, the National Foreign Direct Investment Screening Office was established by means of Bill No. 164.
Such came into force by means of the EU Regulation 2019/452 which aims at safeguarding the interests of Europe concerning security and public order by means of incorporating the first EU-wide foreign investment screening cooperation mechanism. In such manner, member states shall look into foreign companies’ transactions which target the EU’s strategic interests.
Moreover, it aims at fabricating a framework for the exchange of thoughts and information between member states of the European Union and the European Commission. Moreover, the establishment of the aforementioned office aims at screening foreign direct investments, having its origins from this countries, those being countries which are not a member of the EU, on basis of security and public order.
The screening procedure is designed to safeguard the European Union’s knowledge, information, and technology, as well as its security interests. The following are some of the sectors which shall undergo screening;
Author: Maila Cimino