BRUSSELS, March 5 (Xinhua) -- The Council of the European Union (EU) approved a new framework for screening foreign direct investment in the EU, thereby concluding the legislative process on this proposal on March 5.
Based on a European Commission proposal presented by President Jean-Claude Juncker in his 2017 State of the Union address, the new framework will allow member states and the Commission to cooperate and exchange information on investments from third countries that may affect security or public order in the EU.
Juncker said: "Today's decision is a proof the EU is able to act quickly when strategic interests of our citizens and economy are at stake."
The new legislation establishing an EU-wide investment screening framework is set to enter into force in April.
