Due to a motion by State Councillor Mr. Beat Rieder from Valais, a discussion about foreign takeovers started in Switzerland. Mr. Rieder said that Switzerland’s innovative strength is increasingly attracting foreign state-owned companies with almost unlimited funds, which then specifically invest in local expertise. As an example, he mentioned the acquisition of Syngenta by Chem China. He said: “Anyone who wants to buy a house with land in the canton of Valais needs a permit, but if someone wants to take over an industrial firm, all that is needed is enough money and a corresponding exchange regulation.”
Countries such as the USA, Germany or France have already issued clear rules on foreign direct investment; in Switzerland, there are no controls at all. One consequence of this is that 70 percent of the thirty largest Swiss companies’ capital is already in foreign hands.
