According to Bloomberg News, Canada will make it mandatory for foreign companies to inform the government in advance before investing or buying in artificial intelligence, quantum computing, and space technology. This is based on an interview with Innovation Minister Francois-Philippe Champagne.
This step will help the government in carrying out a security check before investments progress too much. Potential investors may have limited access to the target companies' user data or other assets while the investigation is ongoing, the report explained.
Champagne told Bloomberg that the stricter regulations will also be applicable to investments in critical minerals and possibly other sectors.
Last month, Champagne mentioned that Canada will take action against foreign investment in the interactive digital media sector to prevent national security threats from state-sponsored actors.
The ministry of Innovation, Science, and Economic Development in Canada has not yet responded to a request for comment.
(Reporting by Utkarsh Shetti in Bengaluru)
