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A
recent series of bids for German engineering firms has prompted
Berlin to think about whether it needs to do more to protect
technologies that are crucial for the online development of
industry, one of its economic priorities.
"Should it remain the case that government agencies are only
allowed to conduct preliminary investigations into investment in
areas deemed relevant for security and defense?" Gabriel wrote
in a guest article for magazine WirtschaftsWoche.
"In my opinion, it's not enough," he said.
"We need to clarify whether we should not create the option to
assess the interests of investors against the EU's industrial
interests for sectors that can be of existential significance
for the strategic future of the European economy," he added.
In the United States, a government panel reviews foreign
takeovers to establish whether they will harm national security
and assesses deals in a wide range of industries.
Gabriel's proposal comes amid concerns over rising Chinese
interest in German firms, triggered by a $5-billion bid by
Chinese home appliance maker Midea for German industrial robot
maker Kuka.
Gabriel has said he would welcome a European counter-offer for
Kuka but the government has made clear it cannot intervene in a
corporate matter.
On Wednesday, Gabriel called for an international "level playing
field" in foreign investment and said Berlin wanted the European
Union to tackle the issue. [L8N19026S]
He drew a distinction between open markets and what he called "a
state-capitalist interventionist market", a clear reference to
China, where German companies have long complained of obstacles
to investment and acquiring local firms.
(Reporting by Caroline Copley; Editing by Keith Weir)
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