Saturday September 19, 2020

New law aims to prevent hostile countries investing in Ireland

Law proposed by Leo Varadkar would allow for a ban on foreign investments from outside the EU, based on a range of security and public order criteria

Michael Brennan

Political Editor

@obraonain
13th September, 2020
Leo Varadkar said that the Investment Screening Bill 2020 would apply to companies outside the EU and would be “proportionate and tailored. Picture: RollingNews.ie

Foreign companies will be banned from investing in Ireland if they are found to pose a threat to national security, under a new law being brought forward by Leo Varadkar.

There are concerns across the EU that countries such as China could give financial support to firms to buy up companies and assets that are strategically important to member states.

The legislation proposed by the Tánaiste and Minister for Business will allow for the screening...

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