Wiley Adviser Says Outbound Investment Review Likely
Nova Daly, a Wiley senior public policy adviser, said businesses in sensitive sectors should prepare for outbound investment review, because even if Congress does not legislate on the topic, the House speaker and Senate majority leader asked the White House to issue an executive order creating such a review.
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Such an executive order could be issued within a few months, Daly said, speaking during a Wiley webinar Sept. 29.
He said the business community has opposed the National Critical Capabilities Defense Act, which was the subject of a hearing Sept. 29 (see 2209290043), because businesses think the scope is too broad, it would disadvantage U.S. firms because other countries wouldn't follow suit, and it would create enormous compliance costs.
He said businesses want regulation of outbound investment only if allies also participate, and they want it not to duplicate sanctions or export controls.
Daly said some of the sectors that could be subject would be critical minerals, climate mitigation technologies, artificial intelligence, microelectronics and advanced clean energy.