Foreign investment nosedives amid competitiveness concerns

‘A need for more urgency’: Foreign investment nosedives amid competitiveness concerns

Source: Financial Post
Author: Naomi Powell

Foreign direct investment nosedived 26 per cent to $33.8 billion in 2017, Statistics Canada reported

Investments by foreign companies in Canada slumped last year to the lowest level since 2010, amid mounting concerns about national competitiveness and uncertainty surrounding the renegotiation of the North American Free Trade Agreement.

Foreign direct investment nosedived 26 per cent to $33.8 billion in 2017, Statistics Canada reported, continuing a trend of declining interest by foreign firms. And for the first time since data collection on the topic began in 2007, foreign firms sold more Canadian companies than they bought.

Finance Minister Bill Morneau disappointed some industry associations this week with a federal budget that did not lower business taxes in response to major reductions in the United States.

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