Foreign investment: EPP Group protects European companies

The EU is about to put in place a mechanism to screen foreign investments. “Almost all EU partner countries already have a filtering mechanism. If the EU wants to maintain a favourable environment for investment, which is a source of growth, jobs and innovation, it must also protect key European assets against investments that would harm the interests of its Member States. Tonight, we have taken a big step in that direction,"said Franck Proust, following the adoption of his report in the International Trade Committee on the Screening of foreign direct investments into the European Union.

Reinforcing the Commission's proposals, the EPP Group insists that the European Union should have a mechanism to collect, analyse and share information on the profile and type of investors (such as their structure, value, and financial sources) in order to allow Member States to fully appreciate the nature of the planned investment. In addition, MEPs consider it necessary to be able to determine who the ultimate investor is in order to prevent any attempt by a foreign power to take control of a strategic asset.

Franck Proust MEP also proposes that if one-third of the Member States issue an opinion on an investment stressing the risk to their security and public order, then the Commission must facilitate dialogue between the recipient country and other Member States to avoid any risk of division within the EU.  "Without falling into protectionism, it is time to show that Europe is no longer taking a naive stance on globalisation," said the European Parliament Rapporteur.

"We are against shady or harmful investments, in particular those that meet political ambitions to take control of industries or technologies. When pioneering in strategic sectors, Europe must be able to protect them. The consensus reached and the seriousness of the proposals put forward show to the Member States that the European Parliament has, under the leadership of the EPP Group, understood the importance of the issues surrounding investments," concluded Franck Proust.