Belgium: Government, Public Sector

European M&A activity in the first half of 2026 presents a paradox: deal values reached their highest levels since late 2021 at USD661.5 billion, yet transaction volumes dropped sharply by 17.8%. Strategic acquirors are pushing forward with deals despite geopolitical uncertainty, with defense, renewable energy, and electric vehicles emerging as key sectors driven by supply-chain concerns and evolving EU regulatory dynamics that favor domestic consolidation while scrutinizing foreign investment.

The European Union is reshaping its defense procurement landscape through new "Buy EU" policies that prioritize regional suppliers and tie funding to compliance requirements. These initiatives mark a significant departure from decades of neo-liberal procurement practices, creating both opportunities and challenges for member states and private capital firms navigating this evolving regulatory environment.

On 8 June 2026, the Council of the EU gave its final approval to a new Foreign Direct Investment (FDI) Screening Regulation (see here), completing the legislative overhaul of the EU’s 2019 framework (the European Parliament had already approved the text on 19 May 2026).

The European Union's revised Cybersecurity Act advances through legislative procedures while facing significant Member State concerns about EU competence limits in cybersecurity matters. The proposed framework would empower the European Commission to exclude high-risk suppliers from the EU market, but questions arise about whether the EU has authority to act in areas traditionally reserved for national security.

This update examines critical policy and regulatory developments affecting EU geopolitical risks, spanning economic security measures, the ongoing conflict in Ukraine, emerging health threats, and evolving cyber security challenges. The analysis provides strategic insights into how these interconnected risks are reshaping the European regulatory landscape and what stakeholders need to monitor.

As the EU Regulation on Deforestation-Free Products approaches its December 2026 enforcement date, recent dry run inspections by German, Belgian, Dutch, and French authorities reveal exactly what operators must demonstrate during compliance checks.

The European Commission has delivered its first three-year review of the Foreign Subsidies Regulation, declaring the enforcement framework "fit for purpose" while acknowledging significant administrative burden on market participants. Though the regime has processed thousands of notifications since 2023, resulting in only a handful of in-depth investigations, the Commission has committed to targeted procedural simplifications expected in 2027, even as it doubles down on scrutinizing state-backed acquirers a

The European Union is reshaping its defense procurement landscape through new "Buy EU" policies that prioritize regional suppliers and tie funding to compliance requirements. These initiatives mark a significant departure from decades of neo-liberal procurement practices, creating both opportunities and challenges for member states and private capital firms navigating this evolving regulatory environment.

The proposed CADA, which was published on June 3, 2026, and is part of the EU's Tech Sovereignty Package, aims to establish the most comprehensive framework yet for regulating cloud services in Europe.

The European Commission's broad information-gathering powers came under scrutiny when Vivendi and Lagardère challenged requests for documents from personal devices during a gun-jumping investigation. The General Court's dismissal of these challenges confirms that competition authorities can access professional communications on personal devices, even when fundamental rights concerns are raised, provided appropriate safeguards are in place.

In recent decades, the relationship between businesses and human rights has shifted significantly, emphasizing shared responsibilities between states and businesses.

The European Commission on October 16 released a Recommendation on guidelines to help exporters comply with Article 5 of Regulation 2021/821 setting up a Union regime for the control of exports...