At the Economic Security Conference, the French Treasury Department published its annual report on foreign investment control in France (FDI) on September 24, 2026. This review of the year 2025 confirms sustained activity and illustrates the government’s commitment to economic openness and the protection of national interests.
What you need to know
On September 24, 2026, the Directorate General of the Treasury published its annual report on the control of foreign investments in France (FDI), covering the year 2025. The report indicates 418 applications filed, compared to 392 in 2024 and 309 in 2023.
This mea does not directly concern consumer purchases or actions. It aims to examine certain foreign investments in French companies when their activities may affect public order, public safety, or national defense interests. The Ministry of the Economy’s introductory article was published on September 28, 2026.
Investment oversight, not a warning for consumers
The 418 cases identified include applications for authorization, requests for preliminary review, and notifications related to crossing the 10% threshold of voting rights in a listed company. Therefore, these are neither 418 authorized investments nor 418 companies deemed sensitive.
In 2025, 323 decisions were issued following authorization requests. Of the operations reviewed, 167 were deemed to fall within the scope of oversight. The report also indicates that 48% of the cases examined did not fall within this scope.
Why this control?
The audit aims to protect activities and interests considered sensitive, while maintaining the openness of the French economy to investment. The sectors cited in the audit include, in particular, essential infrastructure and services, certain inherently sensitive activities, and research and development in critical technologies.
Of the investments authorized, 49% were subject to conditions. These conditions may relate to maintaining sensitive capabilities or activities in France, protecting know-how and information, corporate governance, or providing information to the government. The conditions are monitored and may be revised if they no longer appear necessary.
Key figures from the 2025 report
- 418 cases filed with the Directorate General of the Treasury, compared to 392 in 2024 and 309 in 2023;
- 323 decisions made in response to requests for authorization;
- 167 operations deemed eligible for control;
- 48% of the files examined were considered not to fall within the scope of control;
- 49% of authorized investments subject to conditions;
- 25 opinions issued as part of preliminary examinations, which allow the Directorate General of the Treasury to be consulted before a project is finalized;
- seven formal refusals issued over the last four years.
What will change on a European scale
The revised European framework for screening foreign investments was adopted on June 17, 2026. It is scheduled to come into effect in January 2028. It aims to strengthen coordination among Member States and establish a common minimum set of activities covered by screening. Adjustments to the French system are expected by the end of 2026.
What should consumers do?
No specific instructions are given to consumers: this report does not focus on a product, a recall, or an individual action. It describes an investment monitoring mechanism and its results for the year 2025.
Key takeaways
The report, published on September 24, 2026, lists 418 cases related to the control of foreign investments in France in 2025. Sensitive transactions can be authorized under certain conditions, while refusals remain rare, according to the report. For consumers, this is economic and institutional information, without requiring any specific action.
Sources: Consult the original source ; French Treasury Directorate General: Annual report on IEF control in 2025
