These indicators measure restrictions on foreign ownership of companies across sectors.

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Sector Group Country score IAB regional average IAB global average
Mining, oil & gas     
Sector Greenfield M&A
Mining        100 100
Oil and gas        100 100
100.0100.092.0
Agriculture & forestry     
Sector Greenfield M&A
Agriculture        100 100
Forestry        100 100
100.0100.095.9
Light manufacturing     
Sector Greenfield M&A
Light manufacturing        100 100
Manufacturing of food products         100 100
Pharmaceutical products        100 100
Publishing        100 100
100.093.896.6
Telecom     
Sector Greenfield M&A
Fixed-line infrastructure        100 100
Fixed-line telephony services        100 100
Wireless/mobile infrastructure        100 100
Wireless/mobile services        100.0 100.0
100.089.988.0
Electricity     
Sector Greenfield M&A
Power distribution        100.0 100.0
Power generation – biomass        100.0 100.0
Power generation – coal        100.0 100.0
Power generation – hydro        100.0 100.0
Power generation – solar        100.0 100.0
Power generation – wind        100.0 100.0
Power transmission        100.0 100.0
100.088.087.6
Banking     
Sector Greenfield M&A
Banking        100 100
100.097.191.0
Insurance     
Sector Greenfield M&A
Insurance        100 100
100.0100.091.2
Transport     
Sector Greenfield M&A
Airport operation        100 100
Domestic air        25.0 25.0
International air        100.0 100.0
Port operation        100.0 100.0
Railway freight        100.0 100.0
85.069.278.5
Media     
Sector Greenfield M&A
Newspaper        100 100
Television broadcasting        25.0 25.0
62.573.368.0
Construction, tourism & retail     
Sector Greenfield M&A
Construction        100.0 100.0
Retail distribution services        100 100
Tourism        100 100
100.0100.098.1
Health care & waste management     
Sector Greenfield M&A
Health care        100 100
Waste management and recycling        100 100
100.091.796.0

Summary
Of the 33 sectors covered by the Investing Across Sectors indicators, 31 are fully open to foreign equity ownership in the United States. The only exceptions are the domestic air transportation and TV broadcasting industries. According to the Federal Aviation Act of 1958, foreign investors can only hold a maximum of 25% of the shares of a company providing domestic air transportation services in the United States. Furthermore, the president and at least two-thirds of the board of directors and other managing officers of such a company must be U.S. citizens. The aforementioned restrictions do not apply to the provision of international air transportation services, which are fully open to foreign capital participation. The Communications Act of 1934 specifies that foreign ownership in the TV broadcasting sector is limited to a maximum of 25%. However, the FCC has the discretion to allow higher levels of indirect foreign ownership (up to 100%) if consistent with the public interest. Cable television providers are exempted from this restriction.

Main laws for this indicator

Main laws (English)
The United States has four major information-gathering and disclosure statutes and multiple sector-specific statutes that address foreign equity ownership. Please see below for a list of the applicable laws and regulations.

Main laws (local language)
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