Friends
This statement has been released by the Prime Ministers office few minute
ago. What does it mean to you? Well not much but if you are an American that
elected Obama you need to read this piece very closely for it seems to talk
to you. Trust me this country has resources that even United States wants,
and this patch just out of The Prime ministers office seems to be directed
to you who ever voted for Obama in power.
We are watching.
EM
On the 49th
Statement by the Prime Minister of Canada on foreign investment
December 7, 2012
Ottawa, Ontario
Prime Minister Stephen Harper delivered the following remarks on foreign
investment:
"Hi everyone.
"Today the Minister of Industry rendered decisions respecting two foreign
investment proposals.
"These decisions will be closely studied.
"It is therefore important that Canadians, and also foreign investors,
understand how the government will approach such decisions in the future.
"In particular, Canadians generally, and investors specifically, should
understand that these decisions are not the beginning of a trend, but rather
the end of a trend.
"Investment is critical to our Government's focus on jobs and growth.
"And, Canadians expect that we shall approve foreign investments that are of
net benefit to Canada.
"But, all investments are not equal.
"In particular, as we have indicated for many years, purchases of Canadian
assets by foreign governments through state-owned enterprises are not the
same as other transactions.
"The larger purposes of state-owned enterprises may go well beyond the
commercial objectives of privately owned companies.
"This raises the question of when, and to what degree, foreign state control
of Canadian business can be of net benefit to Canada.
"To be blunt, Canadians have not spent years reducing the ownership of
sectors of the economy by our own governments, only to see them bought and
controlled by foreign governments instead.
"That was never the purpose of the Investment Canada Act.
"It is not an outcome that Canadians would ever support.
"It is not an outcome any responsible Government of Canada could ever allow
to happen.
"We certainly will not.
"Fairness therefore, and Canada's national interest, require that we be
clear how Canadian law applies to future proposals by foreign government
enterprises to acquire Canadian businesses.
"The law requires that the government consider each case on its own merits
according to broad criteria.
"This, of course, will continue.
"In light of growing trends, and following the decisions made today, the
Government of Canada has determined that foreign state control of oil sands
development has reached the point at which further such foreign state
control would not be of net benefit to Canada.
"Therefore, going forward, the Minister will find the acquisition of control
of a Canadian oil-sands business by a foreign state-owned enterprise to be
of net benefit, only in an exceptional circumstance.
"Outside the oilsands, our Government will strengthen scrutiny under the Act
of proposals by foreign state-owned enterprises to acquire Canadian
businesses.
"Some of the considerations that would be factored into a review of such
acquisition proposals include:
"First, the degree of control or influence a state-owned enterprise would
likely exert on the Canadian business that is being acquired.
"Second, the degree of control or influence that a state-owned enterprise
would likely exert on the industry in which the Canadian business operates.
"Third, and most importantly, the extent to which the foreign government in
question is likely to exercise control or influence over the state-owned
enterprise acquiring the Canadian business.
"The onus to show these investments are of net benefit to Canada rests with
the investor.
"Let me be clear.
"When we say that Canada is open for business, we do not mean that Canada is
for sale to foreign governments.
"Our Government will therefore proceed as follows.
"Consistent with the distinction that we make between state and
privately-run enterprises, our Government will, over four years, move
forward with our commitment to raise the review threshold under the
Investment Canada Act, to one billion dollars for private sector
applications only.
"The threshold for foreign state-owned enterprises will remain at three
hundred and thirty million dollars in asset value.
"Let me just make these two additional points.
"First, as I said earlier, the Government continues to strongly encourage
inward investment in Canada.
"For this reason, our Government has accepted the great majority of
investment proposals.
"We will continue to accept those that meet the tests applied under our
legislation.
"Secondly, we will maintain an open, market-based approach to foreign
investment in Canada.
"Canada has decided to have a free market economy.
"That is our choice, and today's policy statement reinforces that choice.
"We will continue to push firmly in trade and investment agreements for
reciprocal treatment abroad for Canadian investors.
"Our statements today will not satisfy everybody.
"Some believe you are either 'for' foreign investment under all
circumstances, or that you must be 'against' foreign investment under any
circumstances.
"Practical government rarely permits such simplicity.
"Foreign investment is not an end in itself.
"It is the means to an end.
"And that end is the long-term prosperity of Canada and Canadians.
"Thank you."
Thé Mulindwas Communication Group
"With Yoweri Museveni and Dr. Kiiza Besigye Uganda is in anarchy"
Kuungana Mulindwa Mawasiliano Kikundi
"Pamoja na Yoweri Museveni na Dk. Kiiza Besigye Uganda ni katika machafuko"
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