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The Investment Audit Act is based on a motion by Beat Rieder, member of the Valais Council of States. The reason was, among other things, the takeover of the Swiss agrochemical giant Syngenta by the state-owned company Chem China for 43 billion dollars.
Unlike Parliament, the Federal Council is of the opinion that there is no need for an investment evaluation. He believes that the current rules are sufficient. To date, there are no known acquisitions that have endangered public order or security in Switzerland in the past.
According to the announcement, the new, significantly revised model should therefore only come into effect if foreign investors acquire Swiss companies that operate “in a particularly critical area”. Now it is Parliament’s turn again.
(SDA)
Source:Blick
I am Liam Livingstone and I work in a news website. My main job is to write articles for the 24 Instant News. My specialty is covering politics and current affairs, which I’m passionate about. I have worked in this field for more than 5 years now and it’s been an amazing journey. With each passing day, my knowledge increases as well as my experience of the world we live in today.
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