Canada raises foreign investment review limit to $1 bn
28 May 2012
The Canadian government has announced a series of improvements in the foreign investment review process, which includes raising the foreign investment review threshold to $1 billion from the existing $330 million.
The nation's minister of industry and minister of state for agriculture, Christian Paradis said that the additional targeted improvements create more jobs, promote economic growth and long-term prosperity in Canada.
"Canada has a strong investment climate, and these targeted changes will ensure that our foreign investment review process continues to encourage investment and spur economic growth," Paradis said.
"Foreign investment is vital to the Canadian economy. It helps Canadian companies find new capital and enables them to expand, innovate and create jobs for Canadians," he further added.
The government will amend and publish the regulations to progressively raise the review threshold from the existing $330 million asset value to $1 billion enterprise value over a four-year period.
The limit will be straight away raised from $330 million in asset value to $600 million in enterprise value for two years, then to $800 million for two years and then to $1 billion.
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