Canada To Liberalize Telecom Sector Foreign Ownership Restrictions

In June 2008, the blue-ribbon Competition Policy Review Panel appointed by the federal government issued its report, Compete to Win, on how to raise Canada's standard of living through greater competition and productivity. A number of the report's recommendations to amend the federal Competition Act and the Investment Canada Act were implemented as part of the Budget Implementation Act, 2009. Now, it appears the government is ready to turn its attention to a recommendation to liberalize Canada's foreign ownership restrictions in certain economic sectors.

In the Speech to the Throne delivered on March 3, the Governor General revealed the government's intention to "open Canada's doors further to venture capital and to foreign investment in key sectors, including the satellite and telecommunications industries, giving Canadian firms access to the funds and expertise they need." Precisely how, and to what degree, the government intends to liberalize these restrictions