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Switzerland edges closer to stricter screening of foreign investments

Published on September 17, 2024

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Switzerland edges closer to stricter screening of foreign investments — National Council wants to examine foreign investments more closely in future Keystone-SDA

Generated with artificial intelligence.

Foreign investors are set to face greater scrutiny in Switzerland as one parliamentary chamber passed the so-called Lex China bill on screening takeovers by overseas buyers.

This content was published on September 17, 2024 - 13:18

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On Tuesday, the House of Representatives approved the bill with 143 votes in favor, 46 against and two abstentions. The controversial issue is how far the new provisions in the Investment Control Act should go.

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Lawmakers adopted Lex China following the advice of its Economic Affairs Committee. Parliament had initiated the bill with the referral of a motion by Centre Party Senator Beat Rieder.

Commission spokesperson Jacqueline Badran noted on behalf of the majority that 80 to 90% of OECD countries have been implementing investment controls for some time. Switzerland, with the highest direct investment per capita, must now follow suit.

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Fundamental concerns were expressed by the Radical Party, part of the Swiss People’s Party parliamentary group and the Federal Council.

The opponents doubted the benefits of an investment screening law. On the contrary, the instrument would endanger prosperity and increase bureaucracy.

Translated from German by DeepL/mga

This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.

If you want to know more about how we work, have a look here, if you want to learn more about how we use technology, click here, and if you have feedback on this news story please write to [email protected].

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SWI swissinfo.ch – the international service of the Swiss Broadcasting Corporation (SBC). Since 1999, swissinfo.ch has fulfilled the federal government’s mandate to distribute information about Switzerland internationally, supplementing the online offerings of the radio and television stations of the SBC. Today, the international service is directed above all at an international audience interested in Switzerland, as well as at Swiss citizens living abroad.

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