Today, at the National Defense and Foreign Affairs Committee of the House, the Ministry of Foreign Affairs was the first reading of the Ministry of Foreign Affairs entitled “Implementation of Regulation (EU) 2019/452 to establish a framework for direct foreign investment control in the Union for security or public order”.
The presentation of the draft law was made by the Deputy Foreign Minister responsible for Economic Diplomacy and Extraversion, Mr. Tasos Hatzivasiliou. With the draft law under discussion, a clear regulatory framework and a national mechanism for the effective control of direct foreign investment for security or public order reasons is introduced for the first time.
The main purpose of the bill is to protect against the risk of malicious investors, which may acquire the control of assets or businesses of vital importance.