Business woman point finger to screen mobile phone and technical chart with metropolis city sunset background
Business woman point finger to screen mobile phone and technical chart with metropolis city sunset background

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Canada needs to reconsider its approach to foreign direct investment (FDI) in the innovation sector as part of a COVID-19 recovery plan, industry experts say.

Dan Ciuriak, Senior Fellow, Centre for International Governance Innovation (CIGI), said in an interview that there is a net benefit test in the Investment Canada Act, but is only applied for investments that surpass a certain threshold. The test was used when Australia-based BHP Billiton tried to take over PotashCorp of Saskatchewan in 1975.

Ciuriak says FDI is a net positive in some industries, but it is trickier to evaluate in the tech sector “because a lot of...

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