US expects to introduce fast-track foreign investment next year, official says
The US anticipates a fast-track initiative to streamline foreign investment to go live early next year, a senior Treasury official has said. The timeline comes more than a year after the Treasury Department announced its intent to launch the Known Investor Programme to facilitate investment from US allies and partners, and streamline the review process for frequent filers. “We're in the pilot…
The US is set to launch a fast-track initiative for foreign investment early next year, according to a senior Treasury official. This program, known as the Known Investor Programme, aims to expedite the investment review process for frequent filers from US allies and partners. Chris Pilkerton, assistant secretary for investment security at the Treasury department, stated that the program is currently in the pilot phase.
Under this initiative, the Committee on Foreign Investment in the United States (CFIU) can gather information from foreign investors prior to a filing, enabling a more thorough due diligence process. The program is expected to enhance efficiency by focusing on the transaction terms when the parties involved are known. The initiative aligns with the administration's efforts to attract foreign investment, with commitments totaling over $5 trillion.
CFIUS, established in 1975, reviews foreign investments to protect US national security. The program is currently being piloted with confidential participants chosen based on criteria such as geographic diversity and filing frequency. The department hopes this initiative will bring efficiency to the process, although it does not alter the existing timeline.
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