Canada is updating the Investment Canada Act (ICA) to toughen scrutiny on foreign investments and protect national security, a move that came in the wake of the government’s recently released Indo-Pacific Strategy labelling China as an “increasingly disruptive global power.”
“The reality is geopolitics of the world today has vastly changed in the last few years. That’s why we must be prepared to face the challenges that could endanger our economic security, and I would say our national security,” Innovation Minister François-Philippe Champagne said at a press conference on Dec. 7.
