EU to screen foreign investment

BRUSSELS: The European Union said it will start screening foreign direct investment (FDI) into the 28-nation bloc from April.

The decision has been taken as a move to ‘safeguard Europe’s security, public order, and strategic interests’, according to the European Commission.

European ministers on Tuesday approved the process, which was first proposed by the Commission two years back in 2017, agency reports said.

The screening is aimed at giving EU countries a tool to intervene in cases of FDI in strategic assets, according to reports. (Agencies)