Today, in the Committee on National Defence and Foreign Affairs of the House of Representatives, the first reading of the bill of the Ministry of Foreign Affairs entitled “Adoption of measures implementing Regulation (EU) 2019/452 establishing a framework for the control of Foreign Direct Investment in the Union on grounds of security or public order” was held.

The presentation of the draft law was made by the Deputy Minister of Foreign Affairs, responsible for Economic Diplomacy and Externalisation, Mr Tasos Hadjivassiliou. The draft law under discussion establishes for the first time in our country a clear regulatory framework and a national mechanism for the effective control of foreign direct investment for reasons of security or public order.

The main purpose of the bill is to protect against the risk of malicious investors who may gain control of vital assets or businesses.