April 19, 2013
Following the release of Foreign Direct Investment and the National Interest: A Way Forward, a report by Dany Assaf and Rory McGillis, The Globe and Mail has published an op-ed by Dany Assaf.
The issue of foreign investment has long been a sensitive topic in Canada. For years, we have debated concerns about the "hollowing out" of Canada and, more recently, the investments from state-owned enterprises in the oil patch from less familiar trading partners in Asia and the Middle East. Given the list of recent controversial deals, it’s no wonder investors and Canadians alike are concerned with understanding the actual state of play toward foreign investment in Canada.
Many questions were raised regarding how open we remain to foreign investment with the first effective government rejections of the proposed foreign takeovers of MacDonald Dettwiler in 2008 and Potash Corp. of Saskatchewan in 2010. What’s Canada’s national interest with foreign investment? Where do we stand in relation to other global competitors for investment? Is there a need for further policy reform with changes to global flows in trade and investment?
The reality is that Canadians benefit from having others invest in our country and help us fund projects and expand our businesses more quickly and cost-efficiently than we could on our own. All Canadians benefit; we all depend on strong businesses operating in Canada.
Read the full op-ed here.