A bipartisan group of U.S. legislators have introduced a bill aimed at protecting the United States against "potential adversaries, such as China" that might attempt to acquire critical U.S. technologies and know-how through investment in U.S. companies. The legislation would reform the Committee on Foreign Investment in the United States (CFIUS), an interagency body responsible for reviewing inbound foreign investment for national security risks, according to Lawfare.
Reuters reported that Oracle Corp has endorsed the bill.
“We appreciate the language is narrowly tailored to focus on specific national security concerns, distinguishing between investments that are financially motivated and investments that are strategically motivated, such as improving foreign military capabilities or other strategic objectives,” Oracle Senior Vice President Kenneth GlueckIn wrote in a letter addressed to three senators who introduced the legislation.
The text of the draft legislation is HERE.