Published by Global Banking and Finance Review
Posted on December 19, 2024
AMSTERDAM (Reuters) - The Dutch government on Thursday said it aimed to add technologies such as biotech and AI to its investment screening law, through which it can block potential takeovers on national security grounds.
"The international security situation has deteriorated rapidly in recent years," Economy minister Dirk Beljaarts said in a statement.
"The Netherlands already is the target of hybrid attacks, such as cyber operations, espionage and sabotage. Adding these technologies protects Dutch entrepreneurs, their innovations and the future of the Dutch economy."
The list of new technologies to be added to the law also includes nanotechnology and sensor and navigation technology, as well as advanced materials and nuclear technologies for medical use.
The government expects to incorporate the technologies into the law in the second half of 2025.
The investment screening law was introduced last year, at a time when the Netherlands also introduced new restrictions on exports of Dutch semiconductor technology to China under pressure from the United States.
Under the new law, plans to buy vital Dutch infrastructure, real estate or technology must be reported to the Investment Review Office and kept on standstill for eight weeks to six months while it drafts advice for the government on security implications.
(Reporting by Bart Meijer; Editing by Abinaya Vijayaraghavan)
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