Business

US restricts foreigners from owning land near military sites


Foreign nationals and companies will need U.S. government approval to purchase real estate within 100 miles (160 km) of eight military bases, under a proposed rule change following the effort by a Chinese company to build a factory near a military base. Air Force Base in North Dakota.

The Treasury Department’s Office of Investment Security is set to propose the rule on Friday. It would give expanded powers to the Committee on Foreign Investment in the United States, which screens business transactions between U.S. companies and foreign investors, and could block the sale or purchase of foreign investors. force the parties to change the terms of the agreement to protect national security.

Controversy arose over Fufeng Corporation’s plans to build a $700 million wet corn milling plant about 12 miles (19 km) from Grand Forks Air Force Base, where both air and space operations are located. pillar.

EQUAL oppose the project Growing larger, North Dakota Governor Doug Burgum and U.S. Senators John Hoeven and Kevin Cramer, all Republicans, questioned the security risks and asked the federal government in October 7 years ago quick review.

CFIUS told Fufeng in September that it was consider proposal and finally concludes that it is not competent to stop investing.

The plans were eventually scrapped after the Air Force said the plant would poses a significant threat to national security.

The new rule will affect Grand Forks and seven other bases, three of which are tied to the B-21 Raider, The nation’s future stealth bomber. The Pentagon has been working hard to protect its new, most advanced bomber from Chinese spying. The bomber will carry nuclear weapons and can perform manned and unmanned missions.

Six bombers are in various stages of production at Air Force Plant 42, located in Palmdale, California, while the other two bases will serve as future homes for the fleet of stealth bombers. Figure 100: Ellsworth Air Force Base in South Dakota and Dyess Air Force Base in Texas.

National security concerns regarding the other bases were not immediately apparent. Also on the list are Lackland Air Force Base in San Antonio and Laughlin Air Force Base in Del Rio, Texas, both of which are training bases. Other agencies selected for greater protection are the Joint Forces Headquarters of the Iowa National Guard in Des Moines and Luke Air Force Base, located in Glendale, Arizona.

The Air Force had no immediate comment on why the eight bases were selected.

CFIUS, a committee whose members come from the Departments of State, Justice, Energy and Commerce, among others, had the power to block property sales within 100 miles of military bases. different under the 2018 law.

Hoeven said the CFIUS process for reviewing proposed projects needs to be updated.

“Accordingly, Chinese investments in the US need to be scrutinized, especially for facilities like Grand Forks Air Force Base, a key national security asset that plays a role in the Head of all Air Force Global Hawk intelligence, surveillance and reconnaissance operations. has a growing role in US space activities,” he said.

In February, Andrew Hunter, the assistant secretary of the Air Force, said in a letter to North Dakota officials that the military considered the project a security risk but did not elaborate on the types of risks. that Fufeng’s project will cause.

The letter prompted Grand Fork officials, who initially welcomed the mill as an economic benefit to the region, to withdraw their support by denying construction permits and refusing to close the deal. connecting the 370-acre (150 ha) site to public infrastructure.

Fufeng manufactures products for animal nutrition, food and beverage, pharmaceutical, medical and health, oil and gas and other industries. This is the leading manufacturer of xanthan gum. It denied that the factory would be used for espionage.

Lawmakers have also called for a review of foreign investments in farmland. Earlier this year, Senators Jon Tester, D-Mont., and Mike Rounds, RS.D., introduced legislation to prevent China, Russia, Iran, and North Korea from buying US farmland.

“Countries like China that want to undermine America’s status as the world’s leading economic superpower have no right to own property on our land – especially near our military bases.” Tester said in a statement on Thursday.



Source by [author_name]

news7h

News7h: Update the world's latest breaking news online of the day, breaking news, politics, society today, international mainstream news .Updated news 24/7: Entertainment, Sports...at the World everyday world. Hot news, images, video clips that are updated quickly and reliably

Related Articles

Back to top button