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Invest in Canada
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factoids
}}Invest in Canada is an arms-length Government of Canada organization that promotes and attracts foreign direct investment into Canada. It was created through the Investment Canada Act and launched on March 12, 2018 "Government of Canada launches Invest in Canada to attract global investment and create jobs, News Release, March 12, 2018 as a departmental corporation.

History

Before the Invest in Canada agency was created, a division within the federal department Global Affairs Canada led the promotion of investment into Canada. In 1985, the Government implemented the Investment Canada Act to govern foreign direct investment. The Harper government used to limit foreign investment to no more than 50% share,"Alberta courts China as ‘key’ energy market in framework deal" 18 Oct 2013 Financial Post through a policy designed by Nigel S. Wright during his time at the PMO.Foreign direct investment (FDI) by countryStatistics Canada Foreign Investment by Country and by industryFDI by industry (NAICS) are tracked by Statistics Canada; the total in 2012 of FDI was {{CAD|634|link=yes}} bn. New FDI inflow to Canada in 2011 was {{CAD|40.8}} bn.FDI inflow tracked by Government of Canada Canada was host to {{CAD|33}} bn in state-owned enterprise investment over the period between 2005 and 2012.Globe 28 Oct 2013 "Canada's slow oil, gas infrastructure development worry Chinese, minister says" Over the same period, the net FDI increased by {{CAD|236.1}} bn, so that SOE FDI was almost 14% of the total. Conversely, Canadian SOEs limit themselves to domestic affairs. The SOE of Canada are not aggressive in this manner: Canadian SOEs have no foreign investments.The Canadian government is planning to raise to {{CAD|1}} bn the amount of foreign money that can go into a Canadian company before the investment is reviewed. As of 2012, an investment or takeover of a Canadian business by a WTO investor worth {{CAD|330}} mn or more triggers a federal review under the Investment Canada Act. The WTO was implemented in Canada by the World Trade Organization Agreement Implementation Act in 1994.Text of the "World Trade Organization Agreement Implementation Act", SC 1994, c 47 Innovation, Science and Economic Development Canada provides a helpful webpage with this information and explains that WTO members are eligible for {{CAD|344}} mn review-free investment as of 12 January 2013."Thresholds for Review", Industry Canada The WTO maintains a membership list.WTO membership list The information on the WTO "amount" permitted by the discretion of the Minister of Industry under subsection 14.1(2) of the Investment Canada Act is published annually in January in the Canada Gazette. The government investigates whether the investment is of "net benefit" to Canada, which brings into play a nebulous political definition."Ottawa moves to limit foreign investment reviews" CBC 25 May 2012 Amounts inferior to this limit do not incur political oversight under the Investment Canada Act, so that the foreign investor is treated like any other Canadian investor. This means effectively, that Canada is open to reverse takeover by stealth. Prime Minister Harper clarified this FDI policy area in Toronto on 7 November 2013 when he said that a little wiggle room was needed on foreign takeover rules."Harper says clarity not needed on foreign takeover rules " G+M 8 Nov 2013

Bonds

On 5 November 2013, British Columbia finance minister Mike de Jong reported a successful placement of Chinese RMB$2.5bn in dim sum bonds."Canadian Province Issues Offshore Yuan-Denominated Bonds" 5 Nov 2013 The issue was five times oversubscribed.

Investments

2004

2005

  • On 21 August 2005,TUI AG unit Hapag-Lloyd agreed to acquire CP Ships Limited, including its Port of Montreal transshipment wharf, for €1.7bn (US$2bn) in cash. It has now made the combined fleet the fifth largest by capacity in the worldwide container shipping market.weblink" title="web.archive.org/web/20171012002556weblink">TUI press release about CP Ships In 2006 the CP Ships name disappeared for good. TUI AG plans to divest of Hapag-Lloyd, which is a 37% German SOE.

2006

2007

2008

2009

2010

2011

2012

2013

2014

However, in September 2014, Statoil postponed its investment in the "Corner" project.NEWS,weblink Calgary Herald, Statoil puts oilsands expansion on hold, Dan Healing, 9 September 2014, The oil sands in Alberta cover a vast area, and the pipelines needed to ferry their output to the BC coastline, where it will be transported by ship to Asian markets, span a wide range of investments. Many joint venture projects with foreign firms exist because Canadian capital is insufficient. Examples of news articles that have yet to be harvested for this wiki are a CBC article,cbc.ca: "The Horizon Oil Sands site" 7 Jan 2011 and the BC regulator, as well as p. 13 of a report from Ernst and Young.ey.com: "Exploring the top 10 opportunities and risks in Canada's oil sands 2012"

2015

2016

  • Thalmic Labs, wearable computing start up invested US$158 Million
  • Real Matters, a property valuation services received US$100 Million
  • Buildscale, a video marketing platform received US$49 MillionJOURNAL, JLL, 2016, Technology Outlook 2016, Canada,weblink Jones Lang Lasalle,
  • BlueRock Therapeutics, operating in regenerative medicine received US$295 Million by Versant Ventures
  • Dal Cor Pharmaceuticals received US$126 Million by Sanderling Ventures
  • Zymeworks, operating in antibody and Protein Therapeutics received US$87.8 from BDC CapitalJOURNAL, Reuters, Thomson, 2016, Canadian Venture Capital Review Full Year 2016,weblink Canadian Venture Capital Review Full Year 2016,

2017

  • One large investment in 2017 was the purchase by Hong Kong's Li Ka-Shing who purchased Reliance Home Comfort - a water heater and air conditioning firm for $2.82 billion.NEWS,weblink Foreign direct investment in Canada plunges to the lowest in eight years, 2018-03-01, Financial Post, 2018-07-06, en-US,
  • In March 2017, Teutech Industries, a Guelph, Ontario, based manufacturer of precision machined and heat treated powertrain components, was acquired by Indian auto component manufacturer The Hi-Tech Gears at US$44 million investmentJOURNAL, Group, SKP, 2017, Investment Chronicle January – March 2017,weblink Investment Chronicles by SKP Group,
  • A Chinese consortium purchased privately held Valiant-TMS which designs and builds automated production systems.NEWS,weblink Chinese group makes key acquisition in manufacturing, 2018-07-06,
  • In June 2017, Montreal, Quebec-based Element AI raised US$102 million in a funding series led by San Francisco-based Data CollectiveNEWS,weblink Canada’s Burgeoning Tech Sector Is Attracting More US Venture Money - Crunchbase News, Crunchbase News, 2018-07-06, en-US,

External links

References

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- "Invest in Canada" does not exist on GetWiki (yet)
- time: 11:01am EST - Thu, Dec 05 2019
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