Israel has decided to form a committee to review the "national security aspects" of foreign investments, the Prime Minister's Office said on Wednesday.
Prime Minister Benjamin Netanyahu's Diplomatic Security Cabinet approved the new oversight body Wednesday. The panel, led by the Finance Ministry, is to include a number of security agencies.
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The panel is set to begin its work early next year.
"The processes that were agreed upon will find the appropriate balance between the need to encourage foreign investments in Israel and ensure continued economic prosperity, and considerations of national security," a statement said.
Regulators would approach the committee on a voluntary basis and the panel would act in an advisory capacity, dealing only with investments that required Israeli government approval, such as telecommunications, energy and transportation projects.
While the statement did not mention China, the US has repeatedly raised concerns with Israel about technology transfers and potential espionage by Beijing.
Chinese investment in Israel's tech sector reached more than $325 million in 2018, an Israeli venture capital research group said.
