The U.S. Treasury Department said Thursday that it will establish a “fast-track” process to encourage and facilitate investment in U.S. businesses from the country’s allies and partners.

The department said in a statement that as part of the process, it plans to create a “Known Investor” portal where the Committee on Foreign Investment in the United States can collect information from foreign investors before they file for deal approvals from U.S. regulators.

The interagency committee reviews foreign investments and real estate transactions for national security risks. 

If the committee identifies any security concerns, it can request corrective actions or recommend that the president block the transaction. 

The announcement follows the “America First Investment Policy” memorandum, which U.S. President Donald Trump signed in February to encourage certain allies and partners to increase their investments in the U.S. in advanced technology and other critical sectors.