Has the drafter of the most recent piece of legislation on foreign direct investment (”FDI”) clearance by Romanian authorities aligned the FDI screening regime with the key elements of the EU political agreement by the European Parliament and the Council on the revised FDI Regulation?

The context is that at the European Parliament and Council set out the key elements of a revision of the 2019 FDI Screening Regulation under a political agreement which aims at creating a more robust, coherent and strategic EU FDI screening framework. The core elements include: (i) a common minimum scope of sectors and targets, namely dual‑use and military list items, semiconductors, quantum, AI, critical transport/energy/digital infrastructure, strategic raw materials, certain systemic financial services); (ii) minimum procedural requirements i.e. two‑phase procedure, retroactive screening, (iii) harmonised deadlines including a 45‑day initial screening and (iv) strengthened cooperation and information‑sharing, potentially through an EU portal and database.