New law will allow Govt to screen foreign investments

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A new law that will allow screening of investments from non-EU countries is designed to protect Ireland's critical technology and infrastructure from potentially harmful foreign investment

It is designed to protect Ireland's critical technology and infrastructure from potentially harmful foreign investment.

The current transaction value threshold is set at €2m but this will be reviewed and can be revised by the Government if required. It will introduce an investment screening mechanism, allowing the minister to evaluate whether an investment poses a threat to Ireland’s security or public order. The bill has been developed partly in response to an EU Investment Screening Regulation which is in turn, a response to the growing concerns amongst member states regarding the purchase of strategic European companies by foreign-owned firms, and in certain cases, state-owned firms.

 

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