Calvin S Goldman QC
This fifth edition of The Foreign Investment Regulation Review provides a comprehensive guide to laws, regulations, policies and practices governing foreign investment in key international jurisdictions. It includes contributions from leading experts around the world from some of the most widely recognised law firms in their respective jurisdictions.
Foreign investment has garnered a great deal of attention in recent years. This trend is expected to persist as the global economy continues to integrate, the number of cross-border and international transactions continues to increase, and national governments continue to regulate foreign investment in their jurisdictions to an unprecedented degree. Foreign investment reviews are now characterised by a rising tension between normative competition and antitrust considerations on the one hand, and national and public-interest considerations on the other; the latter sometimes weighing heavily against the former. More and more, large cross-border merger and acquisition deals are being scrutinised, delayed or thwarted on the basis of criteria that are not readily discernible and reviews that are progressively broad in scope.
Many factors are driving these emerging trends – the lack of trade negotiations since the Doha Round has increased the focus on national interest considerations such as protectionism, populism and industrial policy; heightened concerns over cybersecurity have led to enhanced national security protection measures; and increased focus in some jurisdictions on the stream of capital flowing from state-owned enterprises has driven greater scrutiny of proposed investments in certain economic sectors such as natural resources.