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Global rules on foreign direct investment (FDI)
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
United Kingdom | Publication | November 2020
Boris Johnson has set out the UK Government’s ten point plan for a green industrial revolution. It is intended to create and support up to 250,000 jobs, with a particular focus on investment and job creation in the UK’s industrial heartlands which include the North East, Yorkshire and the Humber, West Midlands, Scotland and Wales.
The Government plan to mobilise £12 billion of Government investment (and potentially up to three times as much from private sector investment) to create and support highly skilled green jobs in the UK.
The Prime Minister’s ten points are:
While today’s announcement is a welcome signal from the UK Government as a precursor to COP 26 to be held in Glasgow next year, much still needs to be done to deliver on its plan, the majority of which is not new. Funding and investment will be a key issue both from public and private resources and Government has a key role to play in delivering a regulatory and fiscal framework which should encourage delivery. Ambitious plans to ban wholly petrol and diesel powered cars from the market post 2030, with hybrids being outlawed from 2035, pose significant challenges for delivery of infrastructure to achieve the target date and it remains to be seen if this is achievable in the timeframe proposed. Cross-sector and joined up policies will be necessary to deliver major low carbon energy, infrastructure and transport projects and to tackle retrofitting and energy efficiency challenges in housing stock and commercial property markets. The Government needs to create a platform of clear regulation and investment strategy to drive private investment into these areas. Industry will expect details and a pathway to delivery to be developed further in the Spending Review and the long-awaited Energy White Paper. Much remains to be delivered but for now the statement is a welcome statement of intent from Government for UK plc entering a post Brexit world.
Publication
Cross-border acquisitions and investments increasingly trigger foreign direct investment (FDI) screening requirements.
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On February 2, 2024, the Belgian Presidency of the Council of the European Union confirmed that the Committee of Permanent Representatives had signed the Artificial Intelligence (AI) Regulation, referred to as the AI Act. Approval by the EU Parliament followed on 13 March 2024, and the AI Act is likely to appear in the EU’s Official Journal around May 2024. The AI Act aims to establish a stringent legal framework governing the development, marketing, and utilisation of artificial intelligence within the region, thereby marking a significant advancement in the regulation of this burgeoning domain.
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The EU’s Artificial Intelligence Regulation, commonly referred to as the AI Act, is expected to come into force during the summer of 2024 (the AI Act). The AI Act will be the first comprehensive legal framework for the use and development of artificial intelligence (AI), and is intended to ensure that AI systems developed and used in the EU are safe, transparent, traceable, non-discriminatory and environmentally friendly.
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