Third Report - Sovereignty for sale: the FCDO’s role in protecting strategic British assets
Select Committee
Foreign Affairs Committee
HC 197
14 July 2021
Government response
Fourth Special Report - Government response to the Committee's Third Report: Sovereignty for sale: the FCDO's role in protecting strategic British assets · published 25 Oct 2021
Recommendations & Conclusions
5 results
1
Recommendation
Accepted
Para 21
The takeover of Newport Wafer Fab by Nexperia represents the sale of one of the...
Recommendation
The takeover of Newport Wafer Fab by Nexperia represents the sale of one of the UK’s prized assets to a strategic competitor, at a time when global chip shortages means that the products manufactured by NWF are of vital national …
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Government Response Summary
The government notes the recommendation, states it prioritises national security, and confirms the National Security Adviser is currently conducting a review into the acquisition of Newport Wafer Fab by Nexperia. Further comment is deferred until the review concludes.
Foreign, Commonwealth & Development Office
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5
Recommendation
Accepted
Para 29
For the FCDO to add value to the NSI regime, it will be important that...
Recommendation
For the FCDO to add value to the NSI regime, it will be important that the Department has the necessary skills, expertise and structures to effectively support the ISU. If the Government continues to behave in the same ways and …
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Government Response Summary
The government agrees that the FCDO has a key role and states a dedicated FCDO team has been established to support the ISU, raise awareness, and build capability. They are actively identifying and securing necessary short and long-term capabilities.
Foreign, Commonwealth & Development Office
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6
Recommendation
Accepted
Para 30
The FCDO should demonstrate leadership on the foreign relations aspects of foreign investment decisions.
Recommendation
The FCDO should demonstrate leadership on the foreign relations aspects of foreign investment decisions. Supporting the ISU’s work in this area is a key responsibility of the FCDO. It will be vital that the Department has the right expertise both …
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Government Response Summary
The government agrees with the FCDO's leadership role in foreign investment decisions and has established a dedicated FCDO team to support the ISU, raise awareness, and build FCDO capability in this area, both in the UK and overseas.
Foreign, Commonwealth & Development Office
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7
Recommendation
Accepted
We support the Government’s decision to keep the NSI Act agnostic of geography or type...
Recommendation
We support the Government’s decision to keep the NSI Act agnostic of geography or type of actor, so that investments are judged on a case-by case rather than country- 30 Sovereignty for sale: the FCDO’s role in protecting strategic British …
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Government Response Summary
The government accepted the recommendation, stating that FCDO will contribute its expertise and assessment of foreign governments' strategic intent to inform NSI screening and assessment processes.
Foreign, Commonwealth & Development Office
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9
Recommendation
Accepted
Given the complex and transnational nature of the global investment landscape, the UK cannot operate...
Recommendation
Given the complex and transnational nature of the global investment landscape, the UK cannot operate alone on this matter. The Government should cooperate on FDI screening with other countries with whom we share values and strategic objectives. We recommend that …
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Government Response Summary
The government states that the FCDO already works closely with several like-minded countries, promotes its work internationally, and cooperates with Five Eyes and G7 partners on investment security.
Foreign, Commonwealth & Development Office
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