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Bill: The Foreign Investment Regulatory Act
Details
Submitted by[?]: Remetch Beesave Xadtu
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: June 4289
Description[?]:
| The Government must establish an agency to monitor and regulate foreign investment in our country. This bill will hereby establish the FFIMA(Federal Foreign Investment Monitoring Agency) which will be an office within the Ministry of Finance. The Minister of Finance will coordinate with and have oversight of local government work in this area. |
Proposals
Article 1
Proposal[?] to change
The government's policy regarding foreign investments.
Old value:: Foreign investors may freely invest in national companies.
Current: Foreign investors may freely invest in national companies.
Proposed: Local governments regulate foreign investments.
Debate
These messages have been posted to debate on this bill:
| Date | 10:12:57, October 05, 2017 CET | From |  Ity ꜣḥwt xꜣdt | To | Debating the The Foreign Investment Regulatory Act |
| Message | THE PRESIDENT PRO TEMPORE (Mr. Nekht-khem of Arnak): A member from the Nationalism Party of an unknown Sepat has proposed this Foreign Investment Regulatory Act. Members of the Gathering are invited to debate this bill and propose amendments. |
| Date | 10:52:37, October 05, 2017 CET | From | Ity ꜣḥwt xꜣdt | To | Debating the The Foreign Investment Regulatory Act |
| Message | Shanique Harrison Meryneter, Member from Saqqad, Federationst Floor Leader: Mr. President, The Federationists cannot support this bill in its current form. The Hawu economy is built on our companies' work in others countries. In those foreign markets, Hawu companies invest heavily in foreign assets, sometimes owning as much 100% of the foreign assets' shares. If we force foreign investors to reduce their Hawu holdings to 49% or less, their governments may retaliate by forcing Hawu companies to divest from their countries. That would be disastrous for the economy, Mr. President. Mr. President, the Hawu economy is large, wealthy, and global. As Federationists, we do not believe we have anything to fear from allowing foreigners to invest here as much as they like. Not only does the Hawu government retain the right to tax away foreigners' profits if we believe their activities are harming Hawu interests, but the men and women of Hawu are disproportionately high-income professionals which allows them to actively compete with any foreign company that grows large here. Ultimately, such competition is good for Hawu because it keeps us on our toes and encourages us to produce that much more in terms of quality and revenue. Thank you Mr. President. I yield. |
| Date | 21:28:04, October 08, 2017 CET | From | Remetch Beesave Xadtu | To | Debating the The Foreign Investment Regulatory Act |
| Message | Allvince Chandler, Member from Saisyut, Remetch Beesave Xadtu Floor Leader: Mr President, While we recognize the many benefits of foreign investment in our Nation, we can not and will not ignore the many dangers that are associated with this practice as well. Though our own countrymen who have investments abroad are honorable business folk, the same can not always be said of those who invest in our companies. These unscrupulous individuals position themselves in such strategic industries with the sole purpose of lowering our Nation's competitive advantage worldwide, and equally as heinous, they often seek only to strip our companies of their value without adding a single portion in return. These sophisticated investors prey on less sophisticated investors to detrimental ends. The danger can not be ignored Mr President, and if our Federationist colleagues will at least acknowledge this fact, perhaps we can compromise with the goal of protecting our Nation's interest as the guiding principle. In the absence of full support of our proposed bill, we will gladly draft a bill which calls not for the reduction of the amount of foreign investment in our Nation, but the establishment of an agency with authority to monitor which nations are investing in our companies, to what levels and to what ends. We call our Federationist colleagues to support our Nation and to support our revised proposal. Thank you Mr President, I yield |
| Date | 22:29:51, October 08, 2017 CET | From | Ity ꜣḥwt xꜣdt | To | Debating the The Foreign Investment Regulatory Act |
| Message | Shanique Harrison Meryneter, Member from Saqqad, Federationst Floor Leader: Mr. President, We agree with the Guiding Principle articulated by the Member from Saisyut and therefore accept his compromise in principle. Whenever the Nationalists bring forward such a bill, it will have our full support. Thank you Mr. President. I Yield. |
| Date | 04:12:59, October 11, 2017 CET | From | Remetch Beesave Xadtu | To | Debating the The Foreign Investment Regulatory Act |
| Message | Allvince Chandler, Member from Saisyut, Nationalist Party Floor Leader: Mr President, We thank our Federationist colleagues for their recognition of the principle behind this bill and for their support of our revised bill. We have revised the bill per our colleagues concerns and look forward to their support. Thank You Mr President. I Yield. |
| Date | 05:35:50, October 11, 2017 CET | From | Ity ꜣḥwt xꜣdt | To | Debating the The Foreign Investment Regulatory Act |
| Message | Shanique Harrison Meryneter, Member from Saqqad, Federationst Floor Leader: Mr. President, We thank President Chandler for the new language in the bill description. However, Article 1 of the bill would still force foreign companies to divest up to 51% of shares. If the bill's Foreign Investment Monitoring Agency finds that a company is operating within the law and consistent with Hawu interests, our position remains that such a company should not be forced to divest. If Article 1 could be changed to one of the options below, we believe the Foreign Investment Monitoring Agency would then have the flexibility to regulate these foreign companies on a case-by-case basis. . . . Foreign investors need to obtain government approval for all investments in national companies. OR . . . Local governments regulate foreign investments. Mr. President, if we went with the Local Government option, perhaps language could be added to the bill's description specifying that the federal Foreign Investment Monitoring Agency will be an office within the Ministry of Finance and that Minister Temitope will be responsible for coordinating with and overseeing the work of the local governments in this area. Thank you Mr. President. I yield |
| Date | 04:04:03, October 16, 2017 CET | From | Remetch Beesave Xadtu | To | Debating the The Foreign Investment Regulatory Act |
| Message | Allvince Chandler, President and Remetch Beesave Xadtu Floor Leader, Members of The Gathering, In view of the importance placed on this action by myself and the Nationalist Party, we have taken our Federationist colleagues amendment under consideration and have opted to incorporate their suggestion into the language of the bill in order to garner the support of the Federationist and ensure this crucial bill passes this wise body. I yield the floor |
| Date | 04:17:17, October 16, 2017 CET | From | Ity ꜣḥwt xꜣdt | To | Debating the The Foreign Investment Regulatory Act |
| Message | Shanique Meryneter (Feds., Saqqad): Mr. President, We can't thank you and our Nationalist colleagues on the other side of the aisle for being willing to consider and incorporate the Federationist amendments. This bill as currently drafted will have our full support when it comes to vote. Thank you Mr. President, I yield |
| Date | 04:25:13, October 16, 2017 CET | From | Ity ꜣḥwt xꜣdt | To | Debating the The Foreign Investment Regulatory Act |
| Message | Typo: . . . "can't thank you and . . . Nationalist colleagues ENOUGH . . ." |
| Date | 18:48:55, October 17, 2017 CET | From | Remetch Beesave Xadtu | To | Debating the The Foreign Investment Regulatory Act |
| Message | THE PRESIDENT PRO TEMPORE (Mr Purcell Farmer) Recognizing no need for further debate, the bill may be sent to vote at (the new RBX floor leader's convenience) |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 450 | ||
| no | Total Seats: 0 | ||
| abstain | Total Seats: 0 |
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