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ARTICLE · 07 MARCH 2025

On Guard For Thee: Update To The Canadian National Security Guidelines

On March 5, 2025, Minister of Innovation, Science and Industry François-Philippe Champagne announced that the impact of a foreign investment on Canada's economic security has been explicitly added to the Guidelines.

CanadaGovernment, Public Sector

On March 5, 2025, Minister of Innovation, Science and Industry François-Philippe Champagne announced that the impact of a foreign investment on Canada's economic security has been explicitly added to the Guidelines on National Security Review of Investments (Guidelines) issued under the Investment Canada Act (ICA). The Guidelines, which set out various factors that may be taken into account in the administration of the discretionary national security review regime under the ICA, now include the following:

The potential of the investment to undermine Canada's economic security through the enhanced integration of the Canadian business with the economy, or any sector of it, of a foreign state....

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