EU seeks tech funding evaluation to protect financial safety

BRUSSELS (Reuters) – The European Fee requested the 27 EU members on Wednesday to conduct a 15-month danger evaluation of outbound investments in semiconductor, synthetic intelligence and quantum applied sciences, which might result in measures to guard EU financial safety.

EU members ought to evaluation investments by their corporations in non-EU nations going again to the beginning of 2021, offering a progress report in July 2025 and a ultimate report in June 2026, the Fee stated in a non-binding suggestion revealed on Wednesday.

The EU set out plans a 12 months in the past to bolster financial safety by means of nearer scrutiny of international investments and extra coordinated controls on exports and outflows of expertise to rivals reminiscent of China.

The plans have been a response to the a number of dangers uncovered by the COVID pandemic, Russia’s invasion of Ukraine, cyber and infrastructure assaults and geopolitical tensions, which might enhance throughout President-elect Donald Trump’s second time period.

The EU is especially involved by expertise leakage that might be put to make use of by hostile navy or intelligence providers.    

“This evaluation of outbound investments will inform a call on whether or not additional motion is required – at EU and/or nationwide ranges – to deal with any dangers recognized,” the Fee stated.