The United States, United Kingdom, China and elsewhere are clamping down on foreign investments, and in a widening array of industries

Bulgaria established a foreign direct investment screening mechanism. Foreign investors' obligation to file for investment clearance will become effective after implementing regulations are in place.

Taiwan continues to promote FDI under a two-track screening mechanism for foreign and PRC investors.

After a number of years of amendments under the OIA from 2018 to 2021, New Zealand has seen a period of stabilization of the overseas investment regime.

The Republic of Korea continues to welcome foreign investment, with the government actively seeking to ease regulations and update the regulatory framework to be in line with global standards.

Certain businesses related to "Specifically Designated Critical Commodities" have been designated "core" sectors subject to Japan's FDI regime, FEFTA.

India continues to be an attractive destination for foreign investment, ranking as the world's eighth-largest recipient of FDI in 2023.

While restricting the data transfer relating to national security, China issued guidelines to further optimize its foreign investment environment. 

Australia's stringent foreign investment regulations, overseen by the Treasurer and FIRB, safeguard national interests and security.

Now into its second year of operation, the UK's National Security and Investment Act 2021 has become a standard feature of UK transactions for both foreign and domestic investors in certain sensitive sectors.

Foreign direct investment is permissible in the UAE, subject to applicable licensing and ownership conditions.

Making Türkiye an attractive investment destination continues to be a priority for the government.

Historically, Switzerland has been very liberal regarding foreign investments. However, there has recently been increased political pressure to create a more structured legal regime for foreign investment.

In December 2023, Sweden adopted and implemented a new FDI regime, meaning that a general FDI screening mechanism now applies in relation to investments in certain Swedish businesses.

Certain foreign direct investments in Spain are subject to scrutiny under the Law 19/2003 (Law on the movement of capital and foreign economic transactions and on certain measures for the prevention of money laundering).

Since May 31, 2020, certain foreign investments into Slovenian companies can be subject to foreign direct investments review. Incorporation of new companies and business units can also be screened.

The new Foreign Investments Screening Act entered into force in Slovakia on March 1, 2023.

Russian laws regulating foreign investments have been considerably amended in 2023 to extend the scope of the laws as well as to strengthen control in this sphere.

The Romanian regime regarding foreign direct investment appears to have become more stable in 2023, but continues to surprise.

In Portugal, transactions involving acquisition of control over strategic assets by entities residing outside the EU or the EEA may be subject to FDI screening.

The Polish FDI regime – ambiguous rules, no blocking decisions and evolving market practice.

The foreign direct investment regime in Norway is subject to upcoming changes, with further changes expected to come.

The Netherlands, complementing its existing sector-specific regulations, has introduced a general investment screening mechanism to enhance the protection of its national security across a broader range of sectors.

The Middle East continues to welcome foreign investment, subject to licensing approvals and ownership thresholds for certain business sectors or in certain geographical zones.

Malta's FDI regime regulates transactions that must be notified to the authorities and, in some cases, will be subject to screening.

In 2023, Luxembourg adopted a national screening mechanism for foreign direct investments.

All investments concerning national security are under the scope of review.

The law in Latvia provides for sectoral FDI regimes for specific corporate M&A, real estate dealings and gambling companies.

Italy's Golden Power Law is now more than 10 years old and is continuously expanding its reach.

Ireland is expected to enact its FDI screening legislation in 2024.

FDI screening in Hungary – forever changing regulation, no change in its importance.

Following numerous amendments over the past years, Germany's FDI review continued in full swing in 2023, with further significant updates expected in 2024.

French FDI screening continues to focus on foreign investments involving medical and biotech activities, food security activities or the treatment, storage and transmission of sensitive data. The nuclear ecosystem is subject to very close scrutiny.

FDI deals are generally not blocked in Finland.

Estonia's foreign direct investment screening mechanism entered into force on September 1, 2023.

The scope of the Danish FDI regime is comprehensive and requires a careful assessment of investments and agreements involving Danish companies.

The new Czech Foreign Investments Screening Act took effect in May 2021, establishing the rights and duties of foreign investors and setting screening requirements for Czech targets.

The Belgian FDI screening regime entered into force in July 2023. In its early days, investors and authorities alike are coming to grips with the new regime and the guidelines that help parties navigate it.