Foreign investors to face additional scrutiny under proposed changes to Investment Canada Act: Minister Champagne

On Wednesday, the federal government unveiled what officials describe as the biggest update to Canada’s foreign direct investment laws in over a decade, with new rules requiring approval for investments in “sensitive sectors” and broader efforts to share information on firms under review. “The reality is geopolitics of the world today have vastly changed in the last few years,” Minister of Innovation, Science and Industry Francois-Philippe Champagne told reporters in Ottawa. “That’s why we must be prepared to face the challenges that could endanger our economic security, and I would say our national security.”