27.8.2019 16:10:21

Ministry of Industry and Trade presented a draft law on screening of foreign investments

The Ministry is proposing the creation of a screening mechanism for non-EU investments to protect security and public order. If the investment is found to be risky, the government will be able to make such an investment conditional or to prohibit or cancel it. Investments may be cancelled within 5 years of their completion, but investments completed before this Act becomes effective should remain unaffected. Prior authorisation is not required, except for investments in the most sensitive sectors, such as the arms industry or critical infrastructure. Voluntary consultation with the Ministry may prevent possible future cancelation. For the media sector, the consultation may even be mandatory. The law is expected to take effect in mid-2020.