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Global Trade & Sanctions LawPublished on:
Long-Awaited Executive Order on Outbound Investment Issued: Regulatory Comment Process Commences in Advance of Implementation of Any New Rules
On August 9, 2023, President Biden issued an Executive Order on Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern. The new Executive Order (EO) is the culmination of more than a year of deliberation by the Biden Administration regarding outbound investment provisions and kicks off a 45-day comment process to develop a new regulatory mechanism for reviewing outbound investments in foreign countries of concern. This regulatory process and the criteria under consideration are described in the Department of the Treasury’s Advance Notice of Proposed Rulemaking (ANPRM), the key aspects of which are summarized below.
