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ESF Position Paper on Framework for Screening FDI into the EUThe European Services Forum (ESF)

 3rd July 2018, ESF sent its Position Paper on the European Commission’s  proposal for a regulation of the European Parliament and of the Council “establishing a framework for screening of foreign direct investments into the European Union” to the three European institutions, ahead of the trilogue on that proposal. See Position here.

As a question of principle, the European services industries strongly support the openness of the EU market to foreign direct investments. ESF advocates for a narrow and further clarified definition of security and public order to avoid different interpretations between different Member States. ESF supports the fact that the ultimate decision to allow, condition or block FDI lies with the Member State where the investment project is planned/completed.

ESF takes note that services sectors are listed as “projects or programmes of Union interest” and calls for clearer definition of the notion of “critical infrastructures” as interpreted by the European Court of Justice. As for the sectors that should be screened, ESF believes that an overly detailed list might have a deterrent effect on Foreign investors who might hesitate to invest and innovate in the EU. We hence do not support the Parliament’s amendments for a long and detailed list of sectors.