Belgium on 1st July 2023 put in place a mechanism to screen direct foreign investments. The screening mechanism aims to protect strategic sectors, such as critical infrastructure, health and advanced technology, against risks to Belgium’s national security.
During this first year (1st July 2023 – 30 June 2024), 68 files were submitted to the Interfederal Screening Committee (ISC). Of those, 53 investments were approved, none was rejected and 15 are still being examined. The investments concerned represent a total amount of about 2.06 billion euros.
The United States is the main country of origin for investors, accounting for 43% of the files notified to the ISC. The sectors most concerned are: data (15.1%), health (15.1%) and digital infrastructure (11.6 %).
On average, 6 notifications were received each month, with peaks in activity during the months of May 2023 (10 notifications) and December 2023 (9 notifications). Despite some delays due to missing information, the average processing time of a procedure is 31 days.
According to Anne Bonnet, chairwoman of the ISC, the results of the first year of operation are encouraging, though some adjustments and clarifications are needed. The European Commission, for its part, has already launched a proposal for a new Regulation on foreign investment screening.
The 2023-2024 annual report on direct foreign investment screening can be downloaded via this link: Direct Foreign Investment Screening - 2023-2024 Annual Report | FPS Economy.