“Canada is under-retailed. There’s about 16 square feet of retail space per head of population in Canada compared to approximately 24.5 square feet in the U.S., so there’s room for them.”
MAYORS OF CANADA
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| Metro News - 2013 June 2 |
'Canadians will have to Up Their Game'
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| Globe & Mail, 2013 May 21 |
PUBLISHED MARCH 20, 2013
Canada slow to let in foreign investment
Opening key sectors not easily reversible: industry minister
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| Add caption |
Mr Paradis: Said Ottawa would examine any Lenovo bid for BlackBerry using its national security guidelines, which are designed to block foreign governments from gaining control of strategically important firms. - PHOTO: REUTERS
[OTTAWA] Canada will be cautious about liberalising foreign investment rules for sensitive economic sectors because it's very hard to reverse a decision once it's been made, Industry Minister Christian Paradis said in an interview on Monday, meanwhile insisting that Canada remains open to foreign investment.
"When you decide to go with these kinds of reforms, you cannot ratchet down after that. You can ratchet up but not down," said Mr Paradis, who is the government minister responsible for foreign investment rules.
Canada has strict rules governing foreign stakes in industries such as banks, telecommunications and airlines, as well as more general tests to determine if foreign takeovers are beneficial to Canada.
But the issue remains controversial. Mr Paradis' predecessor unexpectedly blocked a 2010 foreign takeover offer for fertiliser giant Potash Corp, and the government last year spent several months mulling over its response to an offer for oil company Nexen Inc from state-owned Chinese oil company CNOOC Ltd.
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