Canada is attractive destination for foreign investment

Wed Oct 24, 2012 12:04pm EDT
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OTTAWA (Reuters) - Bank of Canada Governor Mark Carney on Wednesday declined to say whether the government should approve takeovers by foreign state-owned enterprises, but said investors liked Canada.

Ottawa last week blocked a bid by Malaysian firm Petronas for Progress Energy and is now deciding whether to allow China's CNOOC Ltd to acquire Nexen Inc.

Asked about takeovers by foreign state-owned firms, Carney told a news conference: "Canada is an attractive investment destination. And our challenge is how we use that capital which comes into Canada and how we channel it most productively. I wouldn't overplay the investment story."

(Reporting by David Ljunggren; Editing by Janet Guttsman)