2023-03-22-联合国贸易发展委员-外国直接投资筛选机制的演变_主要趋势和特点（英）_17页_570kb

Evolution of FDI Screening Mechanisms

Overview

The report analyzes the development of Foreign Direct Investment (FDI) screening mechanisms for national security. Since 1995, at least 37 countries have introduced regulations to screen investments, with the trend accelerating in the 2000s and peaking during global events like the COVID-19 pandemic and the war in Ukraine. The mechanisms aim to harmonize provisions, protect sensitive sectors, and balance security concerns with investment promotion.

Key Trends

• At least 37 countries implemented FDI screening frameworks since 1995, with 22 from Europe and others from Asia, North America, Oceania, Latin America, and Africa.
• The number of regulatory changes peaked in 2020-2021, driven by global crises such as COVID-19 and the Ukraine conflict.
• Recent reforms expanded the scope to include sectors like AI, biotechnology, critical technologies, and data privacy.

Scope Expansion

• New sub-sectors now considered strategic include artificial intelligence, semiconductors, cyber-security, and access to personal data.
• Governments have broadened definitions of investment and control to scrutinize foreign ownership in sensitive areas.

Regional Distribution

• Predominantly adopted by developed economies, with a few developing countries also implementing schemes.
• Response to events like COVID-19 and the Ukraine war accelerated adoption in regions outside Europe.

Governance and Procedures

• Approaches vary, with three main models: filing-based, notification-based, and pre-authorization.
• Common administrative burdens include discretionary review periods, sanctions for non-compliance, and limited transparency.
• Efforts at harmonization exist, particularly within the EU, through regulations like (EU) 2019/452.

Challenges and Recommendations

• Issues include lack of predictability, regulatory discretion, and administrative overload.
• Recommendations focus on enhancing predictability (e.g., updated guidelines), improving transparency (e.g., public decision publishing), and streamlining procedures (e.g., pre-authorization to reduce workload).

Conclusion

FDI screening is becoming more widespread, but balancing security needs with investment promotion requires policy improvements to increase legal certainty and administrative efficiency.

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# Analysis Summary
## Key Findings
- FDI screening mechanisms have evolved rapidly since 1995, with 37+ countries introducing regulations for national security.
- Post-COVID-19 and post-Ukraine war, the scope expanded to cover emerging technologies and sectors.
- Europe leads in adoption, but developing countries are also increasing their use.