On 12 October 2020, FR GVT issued update on entry into force of EU regulation.
- DG Trésor issued an update on the entry into force of the regulation establishing a framework for screening of foreign direct investments (FDIs) in the European Union.
- Followed March 2019, EC regulation on screening foreign direct investment.
- Followed December 2019, FR GVT decree on procedures for investments.
- EU regulation came into force on 11 October 2020, 18 months after its approval.
- Many MSs reformed national investment screening systems in preparation for deadline.
- France, which was with Germany and Italy on the initiative, anticipated these developments by ensuring, from 2018, the increased protection of its strategic assets.
- Evidenced by complete overhaul of the control of foreign investments in France (IEF).
- Adoption of the regulation was a priority for France, is now concentrating its efforts, in conjunction with its European partners, on the effective implementation of this text.
- From 11 October 2020, cooperation mechanism provided for will be fully operational.
- Will allow MSs and EC to exchange information, share analyzes of challenges and risks that certain investment projects to take place on European territory may present.
- For example, France will be able to communicate information and issue opinions on a foreign investment in another EU member state, and vice versa.
- The decision to authorize, or not, a foreign investment on its national territory will nevertheless remain a matter for the Member States.