Foreign investment screening did not yet lead to blockages

In the first year that foreign investments in sensitive sectors must pass a screening by the Belgian government, no investments have been blocked. That shows the first annual report of the Interfederal Screening Committee (ISC).

Since 1 July 2023, the Interfederal Screening Committee (ISC) in Belgium vets planned investments that could potentially pose a risk to Belgium’s national security, public order and strategic interests. The screening needs to prevent investors from outside the EU from taking control or becoming owners or operators of critical infrastructure in Belgium. Examples of sensitive sectors are energy and defence.

In its first year, the ISC was notified 68 times of foreign investments that could potentially pose a risk, but no investments have been blocked yet. In 53 cases, the investment was authorised. The remaining 15 cases are still pending. 7 per cent of the notifications have until now required an in-depth screening procedure.

Thirty-three notified investments came from the United States, 22 from the United Kingdom, four from Switzerland, three from India and two each from Canada, China, Singapore and Turkey. Among the priority areas affected by these investments are data, health and digital infrastructure.

Screenings by the ISC can take a maximum of two to three months. They can lead to a positive decision, a positive decision with conditions, or a rejection of the planned investment.

^{The Belgian flag on the Royal Palace in Brussels © BELGA PHOTO ERIC LALMAND}