Industrial Base Policy
Foreign Investment Review

Our Mission

Foreign Investment Review protects DoD equities from adversarial foreign investment risks, at home and abroad by delivering national security risk analyses and mitigation proposals to decision makers to resolve national security concerns.

Who We Are

We analyze national security risk in U.S. foreign transactions

  • Develop and propose mitigation strategies to resolve national security concerns
  • Provide Congressional Certification and Presidential decision recommendations
  • Monitor executed mitigation agreements

We assess DoD and Defense Industrial Base impacts from mergers and acquisitions

We provide data-driven recommendations to improve Defense Industrial Base resilience

We strengthen alliances by collaborating with allies and partners

Andrew Pahutski

Director, Foreign Investment Review

Organizations

An interagency committee that reviews transactions involving foreign parties for national security concerns in the United States.


Supporting Offices

Reviews Federal Communications Commission license requests to protect national security and law enforcement concerns.

Provides data-driven policy recommendations to improve the resilience of the U.S. Defense Industrial Base through economic research, interagency engagement, and the production of Congressionally directed reports.

Assesses transactions between defense suppliers that may impact competition within the Department’s programs and the U.S. defense industrial base.

Collaborates with allies and partners to protect DoD from adversarial foreign investment risks, at both home and abroad.

Our Focus

Serves as DoD’s staff-level representatives on the

  • Committee for Foreign Investment of the United States (CFIUS)
  • Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector (Team Telecom)
  • Department of Justice and Federal Trade Commission Hart-Scott-Rodino Anti-Trust reviews

Researches economic national security issues involving foreign adversarial investment to inform policy recommendations to improve the resilience of the U.S. Defense Industrial Base

Strategically engages and collaborates with allies and partners to protect and bolster the domestic and allied Defense Industrial Bases

CFIUS and Team Telecom

CFIUS is an interagency committee that reviews transactions involving foreign parties for national security concerns in the United States.

Case Analysis

  • The FIR Case Analysis Team leads DoD’s CFIUS case due diligence.

Mitigation

  • The FIR Mitigation Team proposes and negotiates CFIUS mitigation and conditions to resolve national security risks.

Team Telecom

  • The FIR Team Telecom reviews Federal Communications Commission license requests to protect national security and law enforcement concerns.

CFIUS & Team Telecom Monitoring

  • The FIR Monitoring Team monitors and executes DoD CFIUS and Team Telecom mitigation agreements to ensure compliance.

Non-Notified

  • The FIR Non-Notified Team identifies, assesses, and refers for review foreign investment activity that has not been reported to CFIUS and may raise national security considerations for DoD.

Mergers and Acquisitions

The FIR Mergers & Acquisitions (M&A) Team assesses transactions between defense suppliers that may impact competition within the Department’s programs and the U.S. defense industrial base.

  • Pursuant to DoD Directive 5000.62, the FIR M&A Team assesses the impact of Hart-Scott-Rodino merger and acquisitions on national security and DoD’s industrial, technological, and innovation base.

Strategic Capital and Operations Research

The FIR Strategic Capital and Operations Research (SCOR) Team provides data-driven policy recommendations to improve the resilience of the U.S. Defense Industrial Base through economic research, interagency engagement, and the production of Congressionally directed reports.

International and Strategic Engagement

The FIR International and Strategic Engagement Team collaborates with allies and partners to protect DoD from adversarial foreign investment risks, at both home and abroad.