Archived — Annual Report 2013–14
Message from the Director of Investments to the Minister of Industry
I am pleased to present this annual report on the Investment Canada Act for fiscal year 2013–14. As Director of Investments, I am required to submit to you annual reports on the administration of the Act.
Over the course of 2013–14, 11 applications were approved and 655 notifications were filed under the Act. Taken together, the Canadian businesses acquired in these transactions represented $53.98 billion in total assets.Footnote 1 Of this, applications reviewed by the Minister accounted for $15.42 billion and transactions requiring notification represented $38.56 billion.
The resource sector attracted the largest share of investment: 97 investments involving companies with combined assets of $31.54 billion. The business sector continued to attract the greatest number of investments: 230 investments totalling $4.75 billion.
The United States continued to lead in terms of the highest level of investment: 350 investments, representing over half of the total number of investments, worth over $18 billion. The European Union had the second-highest share with 194 investments totalling nearly $6 billion in asset value.
During 2013–14, the Government of Canada modernized the Act, introducing amendments to implement the measures announced in December 2012. These measures clarify how proposed investments in Canada by foreign state-owned enterprises and other World Trade Organization investors are assessed.
I trust that this annual report provides a useful overview of the administration of the Act. The data show that Canada has a globally connected, sophisticated economy and a proven track record of welcoming investors from all over the world.
I look forward to continuing to support you in administering the Investment Canada Act.
Director of Investments
- Footnote 1
Acquisitions are recorded by the asset value of the Canadian business to be acquired, based on its most recent audited financial statements.
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