Canadian foreign #investment trends lead to a need for clearer guidelines
Canadian business community asks for clearer foreign investment guidelines
Relationships and business dealings between countries are continuously shifting based on political climate as well as global needs and interests. One of the notable changes in North America during the past few years has been the amount of interest China has begun to show in Canada.
While traditionally, the U.S. has been involved in much of North America’s trade, Canada has begun getting more involved with China – something that has been a big deal in Canadian business media due to recent developments involving the two countries. China has shown interest particularly in gaining access to (or acquiring outright) more of Canada’s natural resources.
The Canadian Council of Chief Executives has recently released a report related to this subject. This report requests clearer guidelines from the Canadian government regarding the enforcement of the Investment Canada Act. This bit of legislation allows the Canadian government to block business deals with foreign countries that they believe may jeopardize Canadian national security – whether it be financially or politically.
The act is currently a bit "open to interpretation", and many businesspeople would like clearer guidelines so that they can have a better grip on how and when the act will be used.
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