The various governments of our country have concluded a cooperation agreement with a view to developing a mechanism for screening foreign investments in sensitive sectors important for public order and security or strategic interests. This screening is intended to prevent investors from outside the European Union from taking control, ownership or management of critical infrastructure in our country.
To do this, an Interfederal Screening Commission will be set up. It will be made up of representatives of the various public authorities and will benefit from the administrative support of the FPS Economy. A central body, the Screening Commission will screen foreign investments representing more than 10% or 25% of the company’s shares, depending on the area in which the investment is made.
By concluding this cooperation agreement, Belgium is entering into a European framework. A European regulation on the subject was already approved in 2019, including a mechanism for cooperation between the Member States and the Commission and directives intended for the Member States concerning the establishment of a filtering mechanism.
The Belgian screening mechanism will apply to investments made by players outside the European Union in the following areas:
-Critical infrastructures related to, for example, energy, health, media and defence;
-Technologies and means of production essential to our security and technologies of strategic importance (for example, artificial intelligence, robotics, semiconductors and nuclear technology);
-Supply of basic goods related to food security, energy or raw materials;
-Access to or control of sensitive information, including personal data;
-Private security sector;
Prime Minister Alexander De Croo stresses the importance of such a device. “Belgium is an open economy and foreign investment is and will remain crucial for our country. But let’s not be naive. In sectors of strategic importance such as energy, health and the media, we must check that foreign investment does not threaten our own security. “, he said in a press release.
The Deputy Prime Minister and Minister of the Economy, Pierre-Yves Dermagne, is also pleased that following many months of work and negotiations, this cooperation agreement with the Regions and the Communities is seeing the light of day. “Soon we will be able to defend our strategic interests and our national security once morest foreign interference. Given the current geopolitical situation and the war in Ukraine, this mechanism comes at the right time. This project will strengthen the economic resilience and strategic autonomy of our country. “, did he declare.
The cooperation agreement will be examined by the various parliaments later this year, to enter into force from January 1, 2023.
