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BCBC Statement regarding Canada's decision on foreign investment

Statement by Greg D’Avignon, President and CEO, Business Council of British Columbia, regarding the Government of Canada’s decision on foreign investment.

“The Business Council of British Columbia today welcomes the decision by the federal government in the purchasing processes involving Nexen Inc. and Progress Energy.

While we will need to review the conditions in greater detail, we believe this decision sends a positive investment signal and balances the important need for capital investment with a net-benefit framework that advances the interests of all Canadians.

With responsible guidelines in place, Canada will continue to attract foreign direct investment given Canada’s reputation as being a safe haven for capital, having sound fiscal management, having an abundance of energy and natural resource assets, and having strong trade relations with established and emerging markets.

As an open trading economy foreign capital is critical to our long term prosperity provided we maintain a net benefit of that investment into Canada.”

The Business Council of British Columbia, now in its 46th year as the premier business organization in BC, represents over 250 leading companies and enterprises in every key sector of the economy. Our member companies and affiliated industry association partners together account for one quarter of all jobs in the province.

Media Contact:

Cheryl Muir