📋 Tender Overview
The government has appointed a committee to investigate whether there is a need for increased control of investments and other economic activity in the business world for reasons of national security.Norway is an open economy with few restrictions on foreign investment and business cooperation. Thats how it should be. But we have to accept the changed security policy realities. That is why we in the Cabinet have today appointed a committee to assess the need for measures to prevent security-threatening economic activity against the business world says Minister for Business Jan Christian Vestre.Foreign investments and international business cooperation are a driving force in the Norwegian economy. At the same time there is increased attention to the safety of investments and other economic activity.Protection against unwanted financial activityThe National Security Authority points out that investments and acquisitions can be used as tools to gain insight into sensitive information about emergency preparedness arrangements critical infrastructure and political decision-making processes. It can also provide access to technology and resources of strategic importance.The committee will investigate whether there is a need for further measures to secure us against unwanted economic activity. In that case this work must be weighed against the business worlds need for international cooperation access to capital and predictability. I look forward to receiving the committees assessments and advice says Vestre.Committee leader and social economist Per Sanderud is looking forward to starting the work.This will be interesting and important work. The committee members have broad expertise and relevant experience from legal issues investment processes in business and security issues. I look forward to the collaboration says the committee leader.National and international regulatory developmentIn recent years many countries have created regulations and mechanisms to capture assess and possibly intervene in potentially security-threatening investments and other economic activity against businesses. Such processes are often called investment screening.Todays regulations give us good control over economic activity towards businesses that are subject to the Security Act. The committee will take a closer look at whether we need further measures or an arrangement to investigate economic activity against those who are not subject to the Security Act says the Minister for Business.The committee must also assess whether there are values technologies and knowledge in business that are not sufficiently secured through existing regulations. The Bergen Engines case from 2021 is an example of a case that was not covered by the duty to report provisions in the Security Act but where the authorities still considered that there was a need to intervene for reasons of national security.Trade and national securityThe EU introduced a screening regulation in 2019. The committee must look at how relevant countries have set up their mechanisms and take this into account in their assessments.The development of security policy means that our allies also see trade investments and value chains in connection with national security to a greater extent. It is not only Norway that is concerned with finding a good balance here. There are good reasons to have a good dialogue with the EU and cooperate closely with our neighboring countries on these issues and draw on their experiences says Foreign Minister Anniken Huitfeldt. It is important that we have the necessary tools to capture and handle acquisitions and investments that could threaten national security. Assessments and advice from a professionally competent external committee will give us a good basis for implementing any measures says Huitfeldt.The committee must submit an NOU to the Ministry of Trade Industry and Fisheries by 1 December 2023.
