Canada Enhances Scrutiny of Foreign Investments to Prevent Takeovers in Key Sectors

Canada Enhances Scrutiny of Foreign Investments to Prevent Takeovers in Key Sectors
The Huawei stand promotes 5G products at the IFA 2020 Special Edition consumer electronics and appliances trade fair on the fair's opening day in Berlin, Germany, on Sept. 3, 2020. Sean Gallup/Getty Images
Andrew Chen
Updated:

The Canadian government announced new investment guidelines on Wednesday aimed at preventing foreign governments and investors from stealing intellectual property and sensitive data and taking over key sectors.

Innovation Minister François-Philippe Champagne said in a statement that the updates to the 2016 Guidelines on the National Security Review of Investments will enhance the scrutiny of foreign investments to ensure that they’re not a national security threat.