Foreign investments modified after screening for security risks
A committee set up to screen foreign investments for potential risks to national security or strategic interests has examined 155 cases since July 2023, imposing corrective measures in three cases.
When a non-EU investor acquires a stake in a Belgian company, the Interfederal Screening Committee (ISC) considers whether it poses a threat to national security, public order and strategic interests.
Of the 155 cases reviewed by the ISC, 139 investments were approved, two were withdrawn and corrective measures were imposed in three cases. The other cases are still being processed. The figures were requested by Flemish MP Peter Van Rompuy of CD&V.
Sensitive data
The three investments subject to corrective measures were in the aerospace, semiconductor and software development and services sectors. They involved investors from Canada, China and the US.
According to the ISC, they posed a risk to the continuity of vital processes, the transfer of sensitive data or knowledge into foreign hands, and the creation of strategic dependencies.
"Foreign investment is vital to Flemish prosperity, but it must not compromise our economic security under any circumstances"
The corrective measures consist of placing certain technology, source code and knowledge in the custody of a third party, guarantees for the continuity of certain processes and the appointment of compliance officers.
“Flanders is an open economy and an important gateway to European trade,” Van Rompuy said. “Foreign investment is vital to Flemish prosperity, but it must not compromise our economic security under any circumstances.”
The ISC is derived from an EU obligation for member states to screen foreign investments and exchange information that may affect security or public order.
#FlandersNewsService | CD&V MP Peter Van Rompuy © PHOTO BELGIAN FREELANCE
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