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Israel to Form Committee to Monitor Chinese Investments Following U.S. Pressure
(Jerusalem Post) Herb Keinon - After three years of deliberations and intensive pressure from Washington about the scope of Chinese investments in Israel, Israel's Security Cabinet decided Tuesday to establish an advisory committee to vet foreign investments. The new body will be headed by the Finance Ministry and will "examine national security aspects in the process of approving foreign investments," with input from the Defense Ministry, National Security Council, Foreign Ministry, and Economics Ministry. Transactions that do not necessitate government approval - believed to include most investment in high-tech firms - will not come before the committee. With this decision, "Israel joins many countries - including the United States, Canada, the United Kingdom, Germany, Australia and others - which have also formulated processes for improving the oversight of foreign investment for national security reasons," the Prime Minister's Office said.