Governmental Control on Foreign Investments in Italy in a Pre and Post Covid 19 Scenario

Luciano Vasques

Mercato Concorrenza Regole, 2020, issue 1, 119-137

Abstract: The article analyses the Italian control of foreign investment regime («Golden Power»)amended by an emergency discipline (d.l. 23/2020) recently enacted, which, in viewof the problems raised by the pandemic, expanded the government control powerson foreign investments.The article analyses some procedural issues of the government’s powers and raisessome concerns about the extension of governmental control over foreign transactionswhere the purchasing company is also an Eu undertaking.The author states that the subjective enlargement, associated with a hypertrophicexpansion of the area of business subject to government control, including regulatedsectors such as finance, banks, and insurance companies, introduced by d.l. 23/2020,makes government control much broader and indeterminate, and potentially conflictingwith the free competition principles, thus with constitutional and Tfeu rules.The author suggests that when the Covid 19’s emergency period will become to end,the control of the government on foreign investments has to be reduced and betterdefined.

Keywords: Golden Power; Golden share; Foreign investment; Freedom of establishment; Governmental control. (search for similar items in EconPapers)
Date: 2020
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