Investment Policy Monitor
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the quarterly Investment Policy Monitor (since 2009) and the UNCTAD-OECD Reports on G20 Measures.
In 2011, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2000 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for growth and development.
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Note: the policy measures are identified through a systematic review of government and business intelligence sources. Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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- Italy - Italy strengthens its investment screening in areas of strategic importance
Italy
Italy strengthens its investment screening in areas of strategic importance
12 Jul 2019By adopting Decree-Law No. 64 of 11 July 2019, Italy significantly amended its FDI screening mechanism laid down in Decree-Law No. 21 of 15 March 2012. It is the second time that the Italian Government extends its powers to review and intervene in acquisitions relating to companies operating in the sectors of defence, national security, communications, energy and transport.
The new Decree Law prolongs the timelines of the screening procedures from 15 days to 45. Furthermore, it expands the investigative powers of the government by allowing inquiries to any third parties. It also enhances cooperation between different public authorities and the information flow between the Bank of Italy, the Italian Supervisory Authority on Financial Markets (CONSOB), the Italian Supervisory Authority on Pension Funds (COVIP), the Italian Insurance Supervisory Authority (IVASS), the Authority for the New Rules of Transport (ART), the Antitrust Authority (AGCM), the Italian Communications Authority (AGCom) and the Italian Regulatory Authority for Electricity Gas and Water (ARERA).
Also, administrative sanctions up to the double value of the transaction are introduced.The Law provides clarifications as to the definition of a "foreign investor". It now covers all entities domiciled outside the European Union, but also EU-companies controlled by non-EU residents and any EU vehicle established to evade the application of the Italian FDI screening legislation.
As this Decree Law was not converted into law by the Parliament, its provisions have lapsed on 10 September 2019.
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Type:
- Entry and establishment (Ownership and control, Approval and admission)
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Industry:
- Not industry specific
- Manufacturing
- Services (Electricity, gas, steam and air conditioning supply, Transportation and storage, Telecommunications, Public administration and defence; compulsory social security)
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Sources:
- Gazzetta Ufficiale, Decree-Law 11 July 2019, n. 64 , https://www.gazzettaufficiale.it/atto/serie_generale/caricaDettaglioAtto/originario?atto.dataPubblicazioneGazzetta=2019-07-11&atto.codiceRedazionale=19G00072&elenco30giorni=true, 11 Jul 2019
- Hogan Lovells, Italian government acts to strengthen further its "golden powers", http://ehoganlovells.com/cv/d283202bd474ba5cd9a6441660272364528fedc9, 22 Jul 2019
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UNCTAD has been collecting information on changes in national foreign direct investment (FDI) policies on an annual basis since 1992. This collection has provided input to the analysis of global and regional investment policy trends in the World Investment Report, the quarterly Investment Policy Monitor (since 2009) and the UNCTAD-OECD Reports on G20 Measures.
In 2011, to further strengthen the quality of reporting, UNCTAD revised the methodology of monitoring investment policy measures. and revised the measures going back to 2000 accordingly.
The Investment Policy Monitor provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies.
Through its monitoring of investment policy changes, UNCTAD offers cutting-edge and innovative contributions to investment policy discourse, and contributes to preparing the ground for future policymaking in the interest of making foreign investment work for growth and development.
-
Note: the policy measures are identified through a systematic review of government and business intelligence sources. Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.