Government of Canada to modernize the Investment Canada Act

The government is determined to continue working with Canadian businesses to attract foreign direct investments from partners that share our interests and values. Today’s modernization efforts will further enhance transparency in the ICA national security review process, while ensuring that the government is able to take action quickly where required. The government will continue to do everything it can to see more economic growth and more Canadian jobs, without compromising our national security or interests.

Quotes

“While our government continues to welcome foreign direct investment, we need to be vigilant and protect Canadian interests. These new amendments will help bring the Act in line with today’s reality, while ensuring we can work at the speed of business. We will continue to work toward an updated ICA framework that ensures Canada’s continued prosperity and, at the same time, continue to act decisively when investments threaten our national security.”
– The Honourable François-Philippe Champagne, Minister of Innovation, Science and Industry

Quick facts

• Canada benefits significantly from foreign investment as an important source of capital and technology. Recognizing the importance of protecting national security, the Investment Canada Act provides for:
  • the review of significant investments in Canada by non-Canadians in a manner that encourages investment, economic growth and employment opportunities in Canada; and
  • the review of investments in Canada by non-Canadians that could be injurious to national security.

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  Contacts

  Laurie Bouchard
  Senior Manager, Communications
  Office of the Minister of Innovation, Science and Industry
  laurie.bouchard@ised-isde.gc.ca

  Media Relations
  Innovation, Science and Economic Development Canada
  media@ised-isde.gc.ca

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