Singapore has introduced the Significant Investments Review Bill to regulate local and foreign investments in entities critical to national security interests. The proposed laws require buyers and sellers to seek approval for certain changes in ownership or control of the entities. The legislation is expected to come into effect in a few months if passed.
Introduced the Significant Investments Review Bill in November 2023 to regulate local and foreign investments in entities “critical to Singapore ’s national security interests”. However, these entities have not been identified yet. Under the proposed laws, buyers and sellers have to notify and seek approval from the Minister for Trade and Industry for certain changes in ownership or control of the entities, among other things.
Parliament is expected to debate the Bill in January 2024, with the legislation set to come into effect a few months later if it is passed. The move comes as countries globally are stepping up scrutiny of investments to protect industries that are crucial to the proper functioning of their economies and societies.Trade and Industry Minister Gan Kim Yong said it is important for Singapore to take a broader view on how to effectively manage the risks that may arise from significant investments in some of these critical entitie
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