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EU Framework for Foreign Direct Investment Control

EU Framework for Foreign Direct Investment Control

Author: Jacques H.J. Bourgeois
Publisher: Kluwer Law International
ISBN: 9789403518831
Published In: December 2019
Format: Paperback
Jurisdiction: European Union ? Disclaimer:
Countri(es) stated herein are used as reference only

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Description
Contents

Details

About this book:
EU Framework for Foreign Direct Investment Control provides an analysis of a new and controversial European Union (EU) approach on how to deal with disparate attitudes among EU Member States with regard to foreign direct investment (FDI). FDI has grown considerably worldwide in recent decades, alongside the no-less considerable development of international ‘supply chains’. In the EU, stock held by foreign investors exceeds EUR 6 billion, while stock held in the rest of the world by EU investors exceeds EUR 7 billion. Moreover, FDI screening is provided on the grounds of public order and security, or on comparable grounds, which under the EU treaties are subject to reserved Member State powers. This important book analyses the current and proposed regimes of FDI screening in the EU, highlighting mechanisms designed to enhance FDI’s advantages and minimize its drawbacks.

What’s in this book:
Leading practitioners, policymakers and academics discuss the 2017 European Commission proposal on FDI screening and its resulting Regulation, focusing on such issues and topics as the following:

the economics of FDI screening;
rising protectionism versus further investment liberalization;
how the EU framework connects with WTO rules;
the dangers of foreign investment in sectors essential to public order and security;
how the EU regulatory layer interacts with FDI screening at Member State level; and
perceived lacunae in the way the EU addresses incoming FDI.

Two detailed examples of how FDI screening works in practice are included, along with a comparative view of FDI screening in the United States. Contributions commenting specifically on the EU Regulation deal with the process of adopting the Regulation and the impact of opposing views and how the Regulation aligns with EU policy in the areas of trade, investment and competition.

How this will help you:
Companies engaged in FDI or financial services will appreciate the detailed analysis of issues raised by this new EU policy instrument. This book is supposed to improve the practitioners’ understanding of the EU regulatory layer now coming on top of FDI screening at the Member State level. Practitioners active in competition law, particularly mergers and acquisitions, will welcome this clear commentary and analysis of a crucial component of EU policy in the related areas of trade and investment, and policymakers will be encouraged to consider whether further regulatory changes are called for.

Editor

Contributors

Preface

PART I
The Economic and EU Legal Background

CHAPTER 1
The Economics of FDI Screening
Eva Rytter Sunesen & Jonas Juul Henriksen

COMMENT ON CHAPTER 1
Comment on Copenhagen Economics Report ‘Screening of FDI Towards the EU’
Erik van der Marel

CHAPTER 2
Regulating FDI in the EU Legal Framework
Marise Cremona

COMMENT ON CHAPTER 2
Foreign Direct Investment Control in the European Union: Rising Protectionism or Instrument for Further Investment Liberalization?
Stephan Schill

PART II
Two Examples of EU Member State FDI Control

CHAPTER 3
Foreign Direct Investment Control in Germany: The M&A Practitioner’s Experience
Hartmut Krause

CHAPTER 4
FDI Control in the EU Framework: The Case of Austria
Manfred Schekulin

PART III
Comments on the European Commission Proposal

CHAPTER 5
The European Commission Proposal on FDI Screening
Maria Martin-Prat

CHAPTER 6
Comment of a Member of the European Parliament
Marietje Schaake

CHAPTER 7
Reading Between the Lines of the EU Regulation Establishing a Framework for Screening FDI into the Union
Régis Bismuth

CHAPTER 8
Summary of the Discussion of the Final Panel on the EU’s FDI Screening Proposal
Nikos Lavranos

PART IV
The WTO Context and the US Experience

CHAPTER 9
The EU Proposal for FDI Control: The WTO on the Sidelines?
Justine Fassion & Bregt Natens

CHAPTER 10
CFIUS Overview
James Mendenhall & Riana Terney

PART V
The EU Regulation as Adopted

CHAPTER 11
The Adoption of the Regulation Establishing a Framework for Screening of Foreign Direct Investments into the European Union
Anders Neergaard

CHAPTER 12
The EU Regulation on Screening Foreign Direct Investment: Another Piece of the Puzzle
Jacques H.J. Bourgeois & Eliza Malathouni

APPENDIX
Regulation (EU) 2019/452 of the European Parliament and of the Council of 19 March 2019

Index