Investment Canada

Invest In Canada (IIC)
Government of Canada
Headquarters Ottawa
Products Inward Investment support
Website www.investincanada.gc.ca

Invest In Canada is the Government of Canada organization that promotes and attracts foreign direct investment into Canada. As a bureau in the Department of Foreign Affairs, Trade and Development Canada, Invest In Canada assists companies planning to invest in Canada or to expand their Canadian operations. The department was created in 1985 by the Investment Canada Act. Recent practice by the Harper government has been to limit foreign investment to no more than 50% share,[1] a policy designed by Nigel S. Wright during his time at the PMO, although that was thrown out the window prior to the Oliver budget of April 2015 with the sale of a 50.1% share in the Canadian Wheat Board.[2]

Foreign direct investment (FDI) by country[3] and by industry[4] are tracked by Statistics Canada; the total in 2012 of FDI was CAD$634bn.[3] New FDI inflow to Canada in 2011 was CAD$40.8bn.[5] Canada was host to CAD$33bn in state-owned enterprise investment over the period between 2005-2012.[6] Over the same period, the net FDI increased by CAD$236.1bn, 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$1bn 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$330mn 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.[7] Industry Canada provides a helpful webpage with this information, and explains that WTO members are eligible for CAD$344mn review-free investment as of 12 January 2013.[8] The WTO maintains a membership list.[9] The information on the WTO "amount" permitted by 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.[10] 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.[11]

Services

Invest In Canada can guide companies through every step of the investment process, from the exploratory phase through to site selection and follow up: it will provide companies with a wealth of information about doing business in Canada and introduce them to specialists who offer one-on-one assistance customized to meet particular needs.

Canada has a global network of investment and trade professionals present in more than 150 cities worldwide to assist companies in making Canada their next investment destination. This global network can help if a company is considering their own Canadian operation, working with a Canadian partner, or gaining a Canadian base for access to North American markets.

Investment and Trade Professionals

Canada's investment professionals can provide companies with strategic intelligence and put them in touch with the right contacts in Canada.

Services Available to Companies

Invest In Canada offers a wide range of services. These include:

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.[12] The issue was five times oversubscribed.

Contacting Invest In Canada

Invest In Canada's global network will show companies why Canada is an ideal strategic choice for growth. By contacting the nearest Canadian Embassy, High Commission, or Consulate, a company can get information and assistance they need to make the right decisions. It is unclear who holds the reins at Investment Canada; a total of five ministers and four parliamentary secretaries are listed on its webpage.[13]

Success Stories

2004

2005

2006

2007

2009

2010

2011

2012

2013

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,[67] and the BC regulator,[52] as well as p. 13 of a report from Ernst and Young.[68]

2015

External links

References

  1. "Alberta courts China as ‘key’ energy market in framework deal" 18 Oct 2013 Financial Post
  2. 2.0 2.1 "U.S., Saudi firms to buy former Canadian Wheat Board". The Globe and Mail. 15 April 2015. Retrieved 15 April 2015.
  3. 3.0 3.1 Statistics Canada Foreign Investment by Country
  4. FDI by industry (NAICS)
  5. FDI inflow tracked by Government of Canada
  6. Globe 28 Oct 2013 "Canada's slow oil, gas infrastructure development worry Chinese, minister says"
  7. Text of the "World Trade Organization Agreement Implementation Act", SC 1994, c 47
  8. "Thresholds for Review", Industry Canada
  9. WTO membership list
  10. "Ottawa moves to limit foreign investment reviews" CBC 25 May 2012
  11. "Harper says clarity not needed on foreign takeover rules " G+M 8 Nov 2013
  12. "Canadian Province Issues Offshore Yuan-Denominated Bonds" 5 Nov 2013
  13. international.gc.ca: "Our Ministers"
  14. usatoday.com: "Smucker buys International Multifoods for $500M" 8 Mar 2004
  15. kornferry.com recruitment ad for "Vice-President, Supply Chain" of Smucker's
  16. TUI press release about CP Ships
  17. Financial Post: "Lessons of oil-sands tragedy" (D. Francis) date unknown
  18. G+M: "Suncor staffer dies at oil-sands project site" (Tait) 19 Jan 2014
  19. "Dofasco recommends acceptance of Arcelor bid". CBC News. 2006-01-24.
  20. Financial Post: "How Xstrata won Falconbridge"
  21. Bloomberg: "Vale Buys Control of Canadian Nickel Miner Inco" 24 Oct 2006
  22. "Abitibi, Bowater merging to create forestry giant". CBC News. 2007-01-30. Retrieved 2009-04-16.
  23. "The company known today as “IPSCO Inc.,” one of the world’s leading producers of steel plate and pipe, began its corporate life in Regina, Saskatchewan on July 13, 1956, as “Prairie Pipe Manufacturing Company Ltd.”..."
  24. G+M 30 Oct 2013 "U.S. Steel ends an era in Hamilton"
  25. cbc.ca: "Jam maker E.D. Smith relishes takeover by U.S. pickle giant" 25 Jun 2007
  26. "Rio Tinto, Alcan reach US$38.1-billion merger deal". CTV.ca. 2007. Retrieved 8 August 2007.
  27. G+M: "Dented by aluminum, Rio Tinto aims to unload Iron Ore Co." 1 Mar 2013
  28. 28.0 28.1 WSJ: "Chinese steel giant eyes Rio Tinto assets" 27 Sep 2013
  29. G+M "The man behind the Teck-CIC deal" 3 Jul 2009
  30. Nova Chemicals: "Company History and Development"
  31. "China's Sinopec takes $4.65-billion US stake in oilsands with ConocoPhillips buy". Vancouver Sun. 13 April 2010. Retrieved 1 April 2012.
  32. "ConocoPhillips Sells Syncrude Stake to Sinopec". Press Release. RigZone. 25 June 2010. Retrieved 25 June 2010.
  33. Report on Business Magazine, Nov 2013
  34. "Merit Mining Corp. Signs Subscription Agreement with Hong Kong Huakan Investment Co., Limited" 10 Apr 2010, Huakan press release
  35. "Merit Mining Corp. Changes Name" 15 Dec 2010 Huakan press release
  36. Bloomberg Businessweek "Company Overview of Hong Kong Huakan Investment Co., Ltd"
  37. "HONG KONG HUAKAN INVESTMENT CO., LIMITED; Local Company" companies-hongkong.com
  38. [ca.hotstocked.com/docs/show/huakan_international.../ew051410.pdf "EARLY WARNING REPORT PURSUANT TO NATIONAL INSTRUMENT 62-103"]
  39. Offshore Technology: "Mizzen Prospect"
  40. G+M "Husky, Statoil laud big offshore Canada oil find " 26 Sep 2013
  41. Rebecca Penty (November 1, 2012). "Husky Profit Rises on Refining Margin as Production Falls". Bloomberg.
  42. investnorthwestbc.ca: "Arctos Anthracite Project (formerly Mount Klappan Anthracite Metallurgical Coal Project)"
  43. "About HD Mining International Ltd" company webpage
  44. "B.C. coal mine has close ties to Chinese government, steelworkers say" 19 Dec 2012 Globe and Mail
  45. "TransCanada Corp And Phoenix Energy Holdings Ltd. Form Joint Venture To Develop Grand Rapids Pipeline System" 29 Oct 2012
  46. "Athabasca shares plummet as First Nation wins leave to appeal" G+M 18 Oct 2013
  47. Financial Post: "Petronas completes $6-billion Progress Energy acquisition after deal gets Ottawa’s approval" 12 Dec 2012
  48. marketwatch.com 13 December 2012 "ArcelorMittal and Nunavut Iron Ore become equal partners in Baffinland"
  49. bloomberg.com: "ARMZ Seeks Rest of Uranium One for $1.3 Billion; Won’t Raise Bid " 14 Jan 2013
  50. FP: "Uranium One bought by top Russian shareholder ARMZ for $1.3-billion; Russia's ARMZ snaps up rest of Uranium One for $1.3-billion" 14 Jan 2013
  51. "AltaGas Ltd. and Idemitsu Kosan Co., Ltd. Form Partnership to Pursue Opportunities to Export Energy From Canada" 29 Jan 2013
  52. 52.0 52.1 "INFORMATION BULLETIN: Triton LNG joins list of B.C. proposals" gov.bc.ca
  53. 53.0 53.1 13 Dec 2012, Financial Post: "Encana, PetroChina form joint venture to develop natural gas in Alberta"
  54. "Ottawa approves Exxon Mobil’s $3.1-billion bid for Celtic Exploration " 20 Feb 2013
  55. albertaoilmagazine.com: "ExxonMobil’s takeover of Celtic Exploration closes"
  56. Reuters: "CNOOC closes $15.1 billion acquisition of Canada's Nexen" 25 Feb 2013
  57. 57.0 57.1 G+M: "Heinz to close Ontario factory, trim 740 jobs" 14 Nov 2013
  58. "Berkshire Hathaway, 3G Buying Heinz for $23.3 Billion". Cnbc.com. November 21, 2012. Retrieved 2013-02-14.
  59. cbc.ca "McDonald's to stop using Heinz ketchup at its restaurants; 34,000 stores worldwide affected by what some call 'corporate battle of the century'" (AP) 28 Oct 2013
  60. "Foreign investment doesn’t need ‘absolute clarity': Harper" Toronto Star, 8 Nov 2013
  61. 8 Nov 2013, Bloomberg "Talisman Sells Montney to Petronas for $1.4 Billion"
  62. "Petronas moves to secure Asian market with natural gas megaproject" 17 Nov 2013 G+M
  63. "Novelis sale to Reynolds could lead to job cuts" G+M 16 Dec 2013
  64. "Major shareholder calls for board shakeup as Sherritt exits coal" RACHELLE YOUNGLAI - MINING REPORTER The Globe and Mail
  65. G+M "Statoil, PTTEP deal to test tighter oil sands rules" 31 Jan 2013
  66. 66.0 66.1 66.2 G+M: "Mexico’s Grupo Bimbo buying Canada Bread for $1.83-billion" 12 Feb 2014
  67. cbc.ca: "The Horizon Oil Sands site" 7 Jan 2011
  68. ey.com: "Exploring the top 10 opportunities and risks in Canada's oil sands 2012"
  69. Water-poor Saudi Arabia invests in Canadian Wheat Board’s grain", 16 Apr 2015
  70. globeandmail.com: "Manitoba port feels squeeze from grain industry shakeup", 28 Apr 2015