Canada to Toughen Foreign Investment Rules for AI, Space Technology
Mar 26, 2024 - bloomberg.com
The Canadian government plans to increase its scrutiny of foreign investments in key technology sectors such as artificial intelligence, quantum computing, and space technology. This move is aimed at expanding the government's power to delay or block deals that may pose a threat to national security. Non-Canadian companies will now be required to provide advance notice to the government before investing in or acquiring Canadian entities in these sectors, according to Industry Minister Francois-Philippe Champagne.
The stricter regulations will also extend to investments in critical minerals and potentially other sectors. This is part of Canada's efforts to protect its national interests and ensure the security of its key technology sectors.
Key takeaways:
Canada is increasing its scrutiny of foreign investments in artificial intelligence, quantum computing, and space technology.
The government is expanding its power to delay and block deals for national security reasons.
Non-Canadian companies will be required to give advance notice to the government before investing in or acquiring Canadian entities in these key technology sectors.
The stricter rules will also apply to investments in critical minerals and potentially other sectors, according to Industry Minister Francois-Philippe Champagne.
