Norway – GVT Foreign Investment Security

Norway – GVT Foreign Investment Security

On 28 October 2022, NOR GVT launched foreign investment security review.

  • NOR GVT appointed a committee to investigate whether there is a need for increased control of foreign investments and other economic activity to protect national security.
  • Screening mechanism has been in development since Security Act was force in 2019.
  • This mandates notification of changes in ownership in businesses subject to the Act.

Committee Overview

  • Will investigate need for new rules for screening economic activity against businesses not subject to Security Act and any other areas not secured via current regulations.
  • Examine relevant countries' approaches and consider these in assessments, as per EU regulation 2019/452 which requires transparency/non-discriminatory.

Next Steps

  • The committee must present its report by 1 December 2023.