Switzerland edges closer to stricter screening of foreign investments

Foreign investors are set to face greater scrutiny in Switzerland as one parliamentary chamber passed the so-called Lex China bill on screening takeovers by overseas buyers. + Get the most important news from Switzerland in your inbox On Tuesday, the House of Representatives approved the bill with 143 votes in favor, 46 against and two abstentions. The controversial issue is how far the new provisions in the Investment Control Act should go. + Why Chinese companies are attracted to Switzerland Lawmakers adopted Lex China following the advice of its Economic Affairs Committee. Parliament had initiated the bill with the referral of a motion by Centre Party Senator Beat Rieder. Commission spokesperson Jacqueline Badran noted on behalf of the majority that 80 to 90% of OECD countries have been implementing investment controls for some time. Switzerland, with the highest direct investment per capita, must now follow suit. + Why the Sino-Swiss FTA is deemed only partially successful ...