Swiss parliament intent on forcing foreign investment controls

Council of States in principle in favour of reviewing foreign investments Keystone-SDA

The Swiss Senate wants to impose stricter controls on takeovers of Swiss companies by foreign investors.

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Lawmakers voted in favour of a corresponding bill on Monday, but will decide on the finer details at a later date.

The parliamentary chamber reached its decision by 16 votes to 29 with no abstentions. The House of Representatives had spoken in favour of the bill in the autumn session.

The Senate will only discuss the Investment Audit Act in detail at a later date. Firstly, the preliminary consultation committee will look at the bill in more detail.

The legislative project is based on a motion by Senator Beat Rieder. Although foreign investments would remain permitted in principle under the Investment Control Act, they would now be subject to authorisation. The state could intervene in the event of security concerns.

The House of Representatives tightened up the draft law last September. Specifically, it decided at the time that the investment review should also apply to non-state investors. In addition to public order and security, the supply of essential goods and services is explicitly mentioned as worthy of protection.

Translated from German with DeepL/mga

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