FDI screening expended to cover 5G technology
26 Mar 2019
Due to rapid development of telecommunication technologies, the government of Italy decided to extend its special powers to cover also 5G technology. Decree-Law no. 22 that entered into force on 25 March 2019 specifies that this particular technology is strategic for the national defense and security system. It further requires that any contract or agreement entered into subjects outside the European Union and concerning a purchase of goods or services related to the design, construction, maintenance and management of the networks relating to 5G, or an acquisition of high-tech components crucial for 5G implementation or management need to be notified in advance. The government may than exercise its veto powers or impose certain conditions on a transaction.
The non-EU natural or legal persons are defined broadly. They are not only individuals or entities that do not have their residence, registered office or place of business in a Member State, but also those present in the EU or EEA but directly or indirectly controlled by non-EU persons.
-
Type:
-
Entry and establishment (Approval and admission)
-
Industry:
-
Manufacturing (Manufacture of computer, electronic and optical products, and electrical equipment)
-
Services (Telecommunications)
-
Sources:
