Invest Europe voices concern over FSR
Invest Europe, together with other trade bodies from various industries, released a joint statement calling upon the European Commission to further refine the Foreign Subsidies Regulation (FSR). The consortium, which includes AIM European Brand Association, Swiss Holdings as well as chambers of commerce and councils from Japan, Korea, Australia, India and the UK, expressed concern the current framework would create a disproportionate burden for EU and non-EU businesses with a global presence.
According to the statement, the legislator’s proposed regime “risks creating a chilling effect on investment and participation in the European economy,” because businesses are likely unfamiliar with the reporting requirements and will need to build up new internal compliance mechanisms.
The signatories expressed particular concern about:
- Reporting obligations: These should...