OTTAWA (Reuters) - The Canadian government will not make any changes to foreign investment rules for the telecommunications sector without conducting consultations first, Industry Minister Tony Clement said on Monday.
The Conservative government of Prime Minister Stephen Harper said in early March it wants to raise the 20 percent investment limit on foreign ownership of Canadian carriers, to make the industry more competitive.
But it has provided few details on the process or timing for any such changes.
“We’re still working out our plan of consultation,” Clement told reporters on Monday.
The minister would not comment on any time frame for consultations or policymaking.
“It’s important that we keep moving ahead on this file because obviously markets are sensitive to these kinds of issues. But I‘m a big believer as well in not going down the route of ‘ready-fire-aim’ so I‘m going to make sure it’s done properly and takes into account the complexities of the situation,” he said.
Reporting by Louise Egan