Post by account_disabled on Mar 10, 2024 4:36:47 GMT
The Council of Ministers approved a royal decree that develops the so-called anti-takeover shield that was deployed with the Covid-19 pandemic to prevent the entry of foreign capital into companies considered strategic and that served, among other things, to Naturgy to stop the division of assets contemplated by its Geminis project. As explained by the Government, the regulations approved today establish "clear, predictable control rules for Spanish investments with greater legal certainty." Greater transparency and trust The decision develops the national regulatory framework that changed with the introduction of article 7 bis of Law 19/2003 in 2020, which suspends the liberalization regime for certain foreign direct investments in Spain subject to prior authorization.
The objective of this regulation is to adapt to the framework of the European Union and give greater transparency and confidence to international investment statistics in Spain,” said the Minister of Industry, Commerce Job Function Email Database and Tourism, Héctor Gómez. The approved text specifies what types of foreign companies and operations do or do not need to request an investment authorization from the administration. In addition, a series of exemptions to the prior authorization regime are established in line with what is established in the European framework. bureaucratic cuts The resolution period goes from the current six months to three months. In addition, the possibility of voluntary consultation is provided for, binding on the administration and with a response period of 30 business days.
Million euros arrived and in the first quarter of 2023 they already reach 10,000 million, which represents an improvement compared to last year's data and reflects that Spanish regulation is attractive for international investment,” said Gómez. The royal decree approved this Tuesday allows the investor to reduce the burdens and possible administrative obstacles and the response and resolution times are reduced, which was one of the main demands of companies and investors. Promotion of the share of electric vehicles The Minister of Industry has also confirmed that he expects the window to open in the first 15 days of July to present the projects competing in the second call for the electric vehicle part.
The objective of this regulation is to adapt to the framework of the European Union and give greater transparency and confidence to international investment statistics in Spain,” said the Minister of Industry, Commerce Job Function Email Database and Tourism, Héctor Gómez. The approved text specifies what types of foreign companies and operations do or do not need to request an investment authorization from the administration. In addition, a series of exemptions to the prior authorization regime are established in line with what is established in the European framework. bureaucratic cuts The resolution period goes from the current six months to three months. In addition, the possibility of voluntary consultation is provided for, binding on the administration and with a response period of 30 business days.
Million euros arrived and in the first quarter of 2023 they already reach 10,000 million, which represents an improvement compared to last year's data and reflects that Spanish regulation is attractive for international investment,” said Gómez. The royal decree approved this Tuesday allows the investor to reduce the burdens and possible administrative obstacles and the response and resolution times are reduced, which was one of the main demands of companies and investors. Promotion of the share of electric vehicles The Minister of Industry has also confirmed that he expects the window to open in the first 15 days of July to present the projects competing in the second call for the electric vehicle part.