On 27 March, the Council decided to consult the CoR on a proposal for a Regulation on the screening of foreign investment in the EU COM (2024) 23. The Regulation was presented within a package, with 4 other proposals, aimed at increasing EU's economic security. The other proposals concern research security, enhancing support for research and development involving technologies with dual-use potential, export controls and outbound investment. The Regulation is the only legislative text of the package.
The EU already has a Regulation on screening of foreign investments in the Union, which entered into force in 2020. This new Regulation is updating the present to the new geopolitical situation (COVID-19, Russian aggression against Ukraine, energy crisis, etc.) and to enhance the cooperation between the Member States and the European Commission. The current Regulation was presented by the EC in 2017 as part of a Trade package. The CoR responded to the whole Trade package, but focused on the Regulation on the screening of foreign investments, as it was the only legislative instrument.
Indicative adoption timeline:
- 15 May 2024: appointment in ECON
- 4 July 2024: exchange of views in ECON
- 11 December 2024: discussion and adoption in ECON
- January/February 2025 TBC: adoption in Plenary
This opinion based on a Council referral and legislative/non legislative documents would cost 5 points.