The Trudeau government intends to revise, thanks to a bill tabled on Wednesday, the Investment Canada Act in order to be able to better examine foreign investments in the country.
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Notably, the new law, if passed, would allow ministerial power to extend a review, impose conditions or accept national security undertakings on investments.
The new rules would also make it easier to share information with other countries, while stiffer fines are in place for entities that violate the Investment Canada Act.
“Although our government continues to be open to foreign direct investment, it must remain vigilant and ensure that Canada’s interests are protected,” said Minister of Innovation, Science and Industry, François-Philippe Champagne.