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EU to enact new controls to screen FDIs

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Brussels, March 5 (IANS) The European Union (EU) has decided to formulate and enact a new set of controls to better scrutinise direct investments coming into the bloc from third countries on the grounds of security or public order, the EU council said in a statement, here on Tuesday.

This was the first time the EU had decided to furnish itself with a comprehensive set of rules, while its major trading partners had already similar controls in place, the council added, reported Efe news.

“The new rules on screening of investments will ensure that openness goes hand in hand with sensible protection of our strategic assets,” said Stefan-Radu Oprea, Minister for Business Environment, Trade and Entrepreneurship of Romania and President of the council.

The council said regulations would establish a solid and stable framework for the screening of foreign direct investments (FDIs) into the EU. Internal negotiations on the subject were concluded on November 20, 2018.

The framework for rules should allow for coordinated methods of being able to scrutinise inward investment at a community level.

The objective of all this was to be able to avoid investments from countries, such as China, which could possibly pose a threat to security or public order within the community, one of the most open in the world, the statement said.

Part of the new screening device would include a cooperation mechanism where member states and the commission would be able to exchange information and raise specific concerns over investments.

Member states will nevertheless retain the ability to review and potentially bar FDI on security and public order grounds.

The decision to set up and maintain national screening mechanisms will also remain in the hands of individual member states, the statement said.

The commission will be authorised to issue opinions in cases concerning several member states, or when investments could affect a project or program of interest to the EU as a whole, such as Horizon 2020 or Galileo.

The new regulations are set to be published on March 21, the council said and added they would come into force 20 days later. “The EU is and will remain one of the world’s most open places to invest in,” Oprea said.

–IANS
pg/pcj

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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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