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New Zealand’s Government has greatly simplified New Zealand’s foreign investment regime with the passing of the Overseas Investment Amendment Act (No 3) (the No.3 Act). The No.3 Act received Royal Assent on 24 May 2021. Many of its provisions come into force on 5 July 2021, though some may take up to a year to come into force. The changes are largely positive for investors, with more streamlined processes for the main types of consent…

The Indonesian government has enacted Presidential Regulation No. 10 of 2021 on Investment Business Lines (“Priority List”) as one of the implementing regulations of the job creation law (“Omnibus Law”). The new investment list replaces the current negative list (under Presidential Regulation No. 76 of 2007 and Presidential Regulation No. 44 of 2016). This priority list states that all business sectors are open for capital investment activities, with some restrictions and conditions for certain aspects.…

On 26 February 2021, the UK parliamentary International Relations and Defence Committee (a House of Lords Select Committee) launched an inquiry into the UK’s security and trade relationship with China. The inquiry will consider the UK Government’s relationship with China, including the latter’s significance as a trade partner and source of investment for the UK. It will also examine the UK’s security interests vis-à-vis China as well as evaluating how UK policy towards China has…

On 20 January 2021 the UK Secretary of State for International Trade, Liz Truss, announced that the UK intended to formally submit its application to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”). The CPTPP is a multilateral free trade agreement between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. Discussions have been ongoing between the CPTPP members and the UK on the UK’s potential accession since 17…

Currently, there is no general foreign investment screening procedure in Ukraine. Ukraine maintained a similar regime called “foreign investment registration,” which was introduced in 1996 under the Foreign Investment Law (available here in Ukrainian), but it was terminated in May 2016. As we previously reported, in May 2020, the Ministry for Development of Economy, Trade and Agriculture of Ukraine (“Ministry of Economy”) commenced a public consultation regarding the draft law “On the procedure for making…

In brief On 19 December 2020, the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) jointly issued the Measures for Security Review of Foreign Investment (“New Measures”) (the official Chinese text is available here; and an unofficial translation is available here). The New Measures, effective from 18 January 2021, represent China’s continued efforts to provide a clearer legal regime for national security review comparable to similar procedures in other developed economies,…

In brief Trade between Vietnam and the United Kingdom (U.K.) will continue to be able to enjoy preferential treatment post-Brexit via the U.K.-Vietnam Free Trade Agreement (UKVFTA), which is intended to replicate the benefits of the European Union Vietnam Free Trade Agreement (EVFTA). In more detail Vietnam and the U.K. signed the UKVFTA on 29 December 2020, effectively preserving the U.K. – Vietnam preferential trading terms available under the EVFTA, which entered into force 1…

On 30 December 2020, the EU and China reached an agreement “in principle” for a new EU-China Comprehensive Agreement on Investment (“CAI”) (see our previous update here). The CAI concludes seven years of investment negotiations, that begun in October 2013, and is expected to come into force later this year. In its press release (see here), the EU stated that the CAI was the “most ambitious agreement that China has ever concluded with a third…

Recent media reports indicate that the EU and China are making progress in long-running negotiations towards a deal to remove barriers to foreign investment. Agreement may potentially be reached by the end of 2020, after seven years of often difficult talks. Negotiations regarding an EU-China investment agreement initially kicked off in 2013. The aim of the agreement is to provide certainty, protection and predictable market access for EU and China investors, with the key sticking…

The New Zealand government has announced that it is retaining the temporary emergency notification regime in the Overseas Investment Act 2005 (the OIA) for another 90 days. While New Zealand is free of Covid-19 in the community, it was no surprise that the ministers concluded that the ongoing economic effects of the COVID-19 pandemic justify the notification regime continuing. The next review of the temporary regime is due by 24 February 2021. Since 16 June…