Flemish Government introduced screening of foreign investments in strategic (semi-) public companies
01 Jan 2019
The Flemish Administrative Decree that entered into force on 1 January 2019 instituted a screening mechanism of foreign investment in strategic companies allowing the Flemish Government to block such a transaction. This mechanism is limited to acquisitions in entities established either by Flemish Government or local authorities, but also companies incorporated for the specific purpose of meeting needs in the general interest controlled by authorities or finances by them.
Additionally, if a foreign persons gains control or decision-making powers in these entities, the government may intervene only if there is a threat to the strategic interests of the Flemish Community or the Flemish Region, in particular if the continuity of vital processes is compromised, if certain strategic or sensitive knowledge threatens to fall into foreign hands or if the strategic independence of the Flemish Community or the Flemish Region is compromised.
Nature of measure:
Type:
-
Entry and establishment (Ownership and control, Approval and admission - screening)
Industry:
Inward FDI:
No
Outward FDI:
No
Sources:
