ISP on the Palantir CEO's purchase in Härjedalen: Not harmful to Sweden's security

When the CEO of Palantir, Alex Karp, bought 15,000 hectares of land in Härjedalen via his Swedish company Cladonia Skog AB, from the forestry company SCA, one of the conditions in the purchase agreement was that the purchase would be approved under the Foreign Direct Investment Review Act, with the Inspectorate for Strategic Products, ISP.

Complete privacy

On August 10, a report on foreign direct investment was submitted to ISP for review.

On August 27, the ISP made its decision.

But when SVT Jämtland requested to be informed of the decision, ISP refused, citing that complete confidentiality prevails in such matters.

The authority announced that it could not even confirm that the case was on its table.

Reconsidered after SVT Jämtland's appeal

But after SVT Jämtland appealed the decision, ISP has now reconsidered the secrecy and is releasing the decision.

The law states that the ISP must either submit a report on foreign direct investment either "without action" or initiate an investigation. It must take place within 25 working days from the time the notification is submitted.

Not judged to have a harmful effect

The law also states that an investment may only be implemented if it has been left without action or approved after review.

ISP has decided to leave the report without action, with the justification that:

"there is no reason to assume that the investment in question is such a foreign direct investment that could have a detrimental effect on Sweden's security or on public order or public safety in Sweden."

The purchase is thereby granted permission according to the Foreign Direct Investment Act.