The Canadian Press/Sean Kilpatrick
News

Ottawa signals focus on data, AI, critical minerals in national security reviews of foreign investment

OTTAWA — The federal government will consider intervening in deals that could give foreign investors access to critical minerals used in emerging technologies or to Canadians’ sensitive personal information, or that could see innovations in fields like AI and quantum transferred out of the country.

On Wednesday, Innovation Minister François-Philippe Champagne released new guidelines for national security reviews under the Investment Canada Act. The first significant revisions since December 2016, they signal that dealmakers in Canada’s innovation economy should expect closer government scrutiny, and follow a similar move in the U.S.

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