[JURIST] Lawmakers on Sunday urged an overhaul of the US government investment review process that approved the takeover [JURIST report] by United Arab Emirates-owned Dubai Ports World [corporate website] of operating rights at several United States ports. The current process is overseen by the Committee on Foreign Investments in the United States (CFIUS) [committee website], under the US Treasury Department. Senate Homeland Security Chairman Susan Collins (R-ME) [official website] and Senator Joseph Lieberman (D-CT) [official website] plan to introduce a bill putting the Department of Homeland Security [official website] in charge. Sen. Collins recently said there are significant shortcomings [press release] in the CFIUS process.
The controversial takeover of port operations [JURIST news archive] by DP World has been criticized [JURIST report] by members of Congress from both parties who say that the government is risking national security. The takeover is also the subject of legal actions in the US [JURIST report] and the UK [JURIST report]. President Bush has said that the deal [CFIUS backgrounder] does not place Americans in any danger but has agreed to underatke a further 45-day review. Reuters has more.