In brief The government of Canada recently announced a significant 45-day consultation on economic security, which remains open until 23 September 2024. The purpose of the consultation is to consider measures to strengthen Canada’s “economic security and supply chain resilience” against the threat of “protectionist and nonmarket policies and practices” and “economic threats or coercion.” This alert provides an overview of recent legislative and policy measures focused on Canada’s economic security, which the result of…
In brief Canada has announced two complementary policies that will subject foreign investment in the interactive digital media (“IDM“) sector to enhanced scrutiny under the Investment Canada Act (“ICA“). IDM relates to digital content and/or digital environments where users can participate or collaborate, including certain mobile apps, video games, and virtual reality platforms. The Minister of Innovation, Science and Industry’s policy is intended to stop hostile state-sponsored or state-influenced actors (“SOEs“) from leveraging Canada’s IDM sector to spread…
In brief On 7 December 2022, Minister François-Philippe Champagne, Minister of Innovation, Science and Industry (Minister), announced the Canadian government introduced legislation to amend the Investment Canada Act (ICA), known as the National Security Review of Investments Modernization Act. While the proposed amendments at first appear to be a dramatic overhaul of the existing national security review framework for foreign investment in Canada, they are generally consistent with other recent legislative amendments and policy developments related to Canada’s…