(MENAFNEditorial) Meeting of EU officials discusses plans to prohibit foreign investment in European companies in key sectors.
This week, France, Germany and Italy together supported a plan by European Commission chief Jean-Claude Juncker to restrict Chinas capacity to purchase interests in European companies in, hi-tech manufacturing, infrastructure and energy sectors.
In the European Unions version of an American presidents State of the Union address, Juncker offered strategies for an investment monitoring commission.
The regulatory frameworks purpose is to provide EU member states with a means to get involved in instances of foreign direct investment in strategic sectors, especially if conducted by state-financed and state-controlled bodies.
A collective announcement released by the German Economy Ministry said France, Italy and Germany wholeheartedly support the commissions proposed strategy as a crucial means to ensure a fairer environment in Europe.
According to Brigitte Zypries, Germanys Economic Affairs Minister, Berlin was expressing interest in foreign investment in the event that it occurred under the correct market conditions.
Zypries also stated that they were required to prohibit other nations from exploiting their leniency in an effort to break through industrial policy stances.
Junckers strategies offer reasonable competition in the European Union and also propose more effective fortification against company takeovers that do not meet with official regulatory requirements.
With the proposed strategies in place, member states will have decisive powers to get involved in instances of government controlled investment in EU firms, said Robert Stutgart at China based BHB Equity
France has for some time had governmental regulations in effect to prevent such deals from taking place in certain telecoms or energy spheres.
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