Assembly committee debates bill to screen foreign direct investments
Parliamentary committee debated changes to a bill that would require Government approval for certain foreign investments in critical sectors.
The Assembly committee on Foreign Policy and Foreign Trade held an amendment debate today on a draft law that would establish a national screening mechanism for foreign direct investments (FDI).
Key thresholds and procedure
The bill, which was sent for further reading at the Assembly's 121st session and supported by all MPs, received 15 proposed amendments. Several amendments were filed by MPs Dimitar Kovacevski, Sonja Mirakovska and Monika Zajkova from the SDSM-led parliamentary group, and others by Sali Murati from the European Front coalition.
Under the proposal, the national screening mechanism would require notification and review of FDI in precisely defined critical and sensitive sectors whenever there are serious indications that a planned investment could negatively affect national security, public order or strategic interests.
The draft sets concrete thresholds: a foreign investor acquiring at least 10% of a company’s capital and/or voting rights, and when the acquisition value is no less than €50,000, would need a prior positive or conditionally positive decision by the Government to complete the investment.
Because there is no separate law or by-law that defines critical infrastructure, the draft gives the Government the legal basis — on a proposal from the Ministry of Defence — to determine which sectors and types of critical infrastructure are subject to screening under the law.
The Ministry of Foreign Affairs and Foreign Trade is proposed as the competent authority for notifications and checks. After consultations with the relevant institutions — Ministry of Defence, Ministry of Internal Affairs, Ministry of Finance, Ministry of Economy and Labour (MET), Agency for National Security (ANB), National Bank of the Republic of North Macedonia (NBRNM), Ministry of Energy, Mining and Mineral Resources (MERMS), the Commission for Protection of Competition (KZK) and others — the ministry would forward a recommendation to the Government on whether an investment should be allowed, allowed with conditions, or rejected.
Investors would be able to challenge a Government decision by filing an administrative dispute before the competent court in accordance with the Law on Administrative Disputes. The draft law is currently also on the agenda of the Legislative-Legal Commission.
Photo: press material from the event
