CRS Report Addresses Concerns About Committee on Foreign Investment in U.S.
The Congressional Research Service has issued a report entitled “The Committee on Foreign Investment in the U.S.” (CFIUS).
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Proposed “Dubai Ports World” Purchase Placed CFIUS Under Added Scrutiny
The CFIUS is an interagency committee that serves the President in overseeing the national security implications of foreign investment in the economy. It is comprised of 9 members, two ex officio members, and other members as appointed by the President representing major departments and agencies within the federal Executive Branch. While CFIUS generally had operated in relative obscurity, the proposed acquisition of commercial operations at six U.S. ports by Dubai Ports World in 2006 placed CFIUS’ operations under intense scrutiny by Congress and the public.
Some Members of Congress Question CFIUS’ Abilities and Operations
Prompted by the Dubai Ports World case, some Members of Congress questioned the ability of Congress to exercise its oversight responsibilities given the general view that CFIUS’s operations lack transparency. Other Members revisited concerns about the linkage between national security and the role of foreign investment in the U.S. economy.