Outbound Investment Order Published in FR

The Treasury Department's Office of Investment Security formally published the Notice of Proposed Rulemaking for the Outbound Investment Rule announced June 21st.   Written comments must be received by August 4, 2024.

Though the EO is framed as applying broadly to outbound investments directed toward “countries of concern,” its annex identifies the People’s Republic of China, including Hong Kong and Macau, as the sole country in this category.

This notice of proposed rulemaking (NPRM) seeks public comment on various topics related to the implementation of Executive Order 14105 of August 9, 2023, “Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern,” which declares a national emergency to address the threat to the United States posed by countries of concern, which seek to develop and exploit sensitive technologies or products critical for military, intelligence, surveillance, or cyber-enabled capabilities.

A summary of the proposed rule is included in our coverage for the initial release June 21st. [12392]

The full text of the proposed rule can be found at [89 FR 55846]