On 13 September 2017, the European Commission published a Proposal for a Regulation creating a framework for screening of foreign direct investments into the European Union and a Communication called “Welcoming foreign direct Investment while Protecting Essential Interests”.
The European Sea Ports Organisation (ESPO) announced that it welcomes the Commission’s proposal. Over the last years, European ports have benefited from investment outside the European Union. Thus, ESPO noted that having an open investment environment should remain one of the basic principles of Europe’s Trade policy.
European ports are essential nodes in the transport chain and important gateways to the world. But many ports are also strategic nodes for energy generation, trade, storage and distribution, increasingly important clusters of industry and blue economy and – in many areas of Europe – essential for the mobility of people. In this role, ports may also pursue objectives of general interest in close cooperation with local communities such as safety as well as ambitious air quality and decarbonisation policies. European ports are in many ways strategic assets. Investments into essential and/or critical European port infrastructure of general interest, which enable effective participation in the management or control of a company, should be assessed from that perspective.
- More transparency among Member States on important foreign direct investments can help the Member States in their decision making.
- Proportionality and consistency are important for the implementation of any screening mechanism.
- The wish of the Commission to screen foreign direct investments is likely to affect projects of Union interests and relating to projects which involve a substantial amount or an important share of EU funding.
- Any investment into port infrastructure should be made in full respect of EU competition and state aid rules.
- EU competition policy should have the tools to assess foreign investments and undertakings in the same sector against the level playing pitch in the shipping and port sector and have a proper assessment of the dominant market position in that respect.
- The principle of reciprocity and non-discriminatory access for EU companies to foreign port sectors should be the cornerstone of any decision on foreign direct investments.
