As Ireland plots the next steps on its FDI journey, it is
caught in the crosswinds of both Brexit and COVID-19.
Before the COVID crisis hit, the grounds were already shifting
on investment screening, with the EU Commission beginning to tilt
towards a more protectionist approach. The pandemic resulted in a
rush towards national self-sufficiency and brought into sharp focus
the difficulties which countries encounter without control of the
technology and manufacturing capabilities necessary to deal with a
public health emergency.
When it comes to investment scrutiny, concepts of public order
and security have traditionally been bound up with energy and
communications infrastructure, defence and dual-use technologies.
The Irish government's call for public submissions on a
potential FDI screening regime comes at a time when other types of
business, such as food distribution and pharmaceuticals, are being
reclassified as essential to the life of a nation.
