Bill Could Require More FDI Reporting in Space Tech Sector
Sen. Marco Rubio, R-Fla., introduced a bill that could require more foreign investment reporting and oversight of foreign companies in the U.S. space sector. The Space Protection of American Command and Enterprise Act, introduced Dec. 2, would require companies to…
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submit Schedule 13D/13G reports to the Securities and Exchange Commission for foreign investments in U.S. companies involved in critical technologies used for space exploration, Rubio said. It would also require the Defense, Commerce and Treasury departments to submit an annual report to Congress on foreign direct investment in U.S. space exploration and manufacturing, including the countries of origin for the FDIs. Rubio said the bill would help limit China’s efforts to “overtake” the U.S. in space industrialization. “The United States should not sit idly while the [Chinese Communist Party] infiltrates American companies, steals our intellectual property, and exploits our domestically produced technology,” he said. “Protecting our technological investments from the CCP’s corporate espionage is critical to our economic and national security.”