of canada headquarters ottawa products inward investment support website www.investincanada.gc.ca invest in canada is the government of canada organization that promotes and attracts foreign direct investment into canada . as a bureau in the department of foreign affairs trade and development canada invest in canada assists companies planning to invest in canada or to expand their canadian operations . the department was created in 1985 by the investment canada act . recent practice by the harper government has been to limit foreign investment to no more than 50 % share 1 a policy designed by nigel s. wright during his time at the pmo although that was thrown out the window prior to the oliver budget of april 2015 with the sale of a 50.1 % share in the canadian wheat board . 2 foreign direct investment fdi by country 3 and by industry 4 are tracked by statistics canada ; the total in 2012 of fdi was cad 634bn . 3 new fdi inflow to canada in 2011 was cad 40.8 bn . 5 canada was host to cad 33bn in state owned enterprise investment over the period between 2005 and 2012 . 6 over the same period the net fdi increased by cad 236.1 bn so that soe fdi was almost 14 % of the total . conversely canadian soes limit themselves to domestic affairs . the soe of canada are not aggressive in this manner canadian soes have no foreign investments . the canadian government is planning to raise to cad 1bn the amount of foreign money that can go into a canadian company before the investment is reviewed . as of 2012 an investment or takeover of a canadian business by a wto investor worth cad 330mn or more triggers a federal review under the investment canada act . the wto was implemented in canada by the world trade organization agreement implementation act in 1994 . 7 industry canada provides a helpful webpage with this information and explains that wto members are eligible for cad 344mn review free investment as of 12 january 2013 . 8 the wto maintains a membership list . 9 the information on the wto amount permitted by discretion of the minister of industry under subsection 14.1 2 of the investment canada act is published annually in january in the canada gazette . the government investigates whether the investment is of net benefit to canada which brings into play a nebulous political definition . 10 amounts inferior to this limit do not incur political oversight under the investment canada act so that the foreign investor is treated like any other canadian investor . this means effectively that canada is open to reverse takeover by stealth . prime minister harper clarified this fdi policy area in toronto on 7 november 2013 when he said that a little wiggle room was needed on foreign takeover rules . 11 contents 1 services 1.1 investment and trade professionals 1.2 services available to companies 2 bonds 3 contacting invest in canada 4 investments 4.1 2004 4.2 2005 4.3 2006 4.4 2007 4.5 2008 4.6 2009 4.7 2010 4.8 2011 4.9 2012 4.10 2013 4.11 2014 4.12 2015 5 external links 6 references services edit invest in canada can guide companies through every step of the investment process from the exploratory phase through to site selection and follow up it will provide companies with a wealth of information about doing business in canada and introduce them to specialists who offer one on one assistance customized to meet particular needs . canada has a global network of investment and trade professionals present in more than 150 cities worldwide to assist companies in making canada their next investment destination . this global network can help if a company is considering their own canadian operation working with a canadian partner or gaining a canadian base for access to north american markets . investment and trade professionals edit canada s investment professionals can provide companies with strategic intelligence and put them in touch with the right contacts in canada . services available to companies edit invest in canada offers a wide range of services . these include strategic market intelligence on specific sectors in the context of the canadian and north american marketplace referrals to a variety of contacts with private sector industry associations and professionals such as bankers lawyers accounting firms and information specialists information and advice on how to set up a business in canada taxation r & d incentives regulations and financial and non financial government programs specific to an industry sector facilitation of site visits to support companies in the identification of a strategic location for their investments and enhance their business opportunities strategic alliances in a welcoming environment assistance in developing a business case for investment decision . bonds edit on 5 november 2013 british columbia finance minister mike de jong reported a successful placement of chinese rmb 2.5 bn in dim sum bonds . 12 the issue was five times oversubscribed . contacting invest in canada edit invest in canada s global network will show companies why canada is an ideal strategic choice for growth . by contacting the nearest canadian embassy high commission or consulate a company can get information and assistance they need to make the right decisions . it is unclear who holds the reins at investment canada ; a total of five ministers and four parliamentary secretaries are listed on its webpage . 13 investments edit 2004 edit on 8 march 2004 the j.m. smucker company bought international multifoods corporation for cash us 500m and considerations of 340m . 14 this included robin hood flour red river cereal bick s pickles and monarch flour among a dozen other brands . 15 2005 edit on 21 august 2005 tui ag unit hapag lloyd agreed to acquire cp ships limited including its port of montreal transshipment wharf for 1.7 bn us 2bn in cash . it has now made the combined fleet the fifth largest by capacity in the worldwide container shipping market . 16 in 2006 the cp ships name disappeared for good . tui ag plans to divest of hapag lloyd which is a 37 % german soe . 2006 edit in 2006 and 2007 sinopec shanghai engineering co. ltd. s canadian subsidiary named ssec canada ltd was hired by canadian natural resources to build a structure on their horizon oil sands project . on 24 april 2007 two chinese temporary foreign workers were killed and five other chinese temporary foreign workers were injured . ssec was fined in october 2012 cad 1.5 mn for the incident . investigations later determined that 132 ssec workers had been unpaid since the start of their employment with ssec . ssec fled the country and the government was unable for a number of years to serve it legal documents . 17 18 in january 2006 arcelormittal took over dofasco for cad 5.5 bn . 19 in august 2006 xstrata subsequently delisted cad 16bn purchased for us 22.5 bn falconbridge ltd. subsequently delisted 20 in october 2006 vale purchased 86 % of inco subsequently delisted for cad 15bn 21 2007 edit in january 2007 bowater merged with abitibi consolidated to form a 52 48 joint venture called abitibibowater . 22 in april 2007 algoma steel was purchased by india s essar group for us 1.63 billion continuing operations as a subsidiary known as essar steel algoma inc. in may 2007 a deal to acquire ipsco steel of saskatchewan 23 for 7.7 billion was announced by ssab swedish steel ab . in 2007 us steel s cad 1.9 bn took over the bankrupt stelco works largely in hamilton subsequently idled in 2010 and finally shutdown in october 2013 . 24 in 2007 the uk tate & lyle conglomerate announced the sale of its redpath sugar refining business to american sugar refining in june 2007 the ed smith income fund accepted a takeover for cad 217mn from treehouse foods of chicago . 25 in july 2007 rio tinto acquired alcan inc. in a us 38 billion deal . 26 rio tinto alcan subsequently divested itself of alcan engineered products to a consortium and alcan packaging to amcor announced in august 2009 . in january 2013 the ceo in charge of the alcan deal tom albanese stepped down in favour of sam walsh because he had overpaid . 27 2008 edit 2009 edit in spring 2009 china investment corporation purchased a cad 1.7 bn 17 % share ownership of teck resources . 28 29 ipic which is wholly owned by the government of the emirate of abu dhabi 100 % purchase of nova chemicals subsequently delisted 30 2010 edit on april 12 2010 conocophillips agreed to sell its 9 % share in syncrude to sinopec a chinese soe oil company . the sale for 4.65 billion was completed on june 25 2010 . 31 32 in april 2010 merit mining corp. was taken over by tianjin huakan group co. ltd. in a cad 15.5 mn deal 33 34 and in december 2010 subsequently renamed to huakan international mining inc. 35 the transaction was funded by hong kong huakan investment corp. an opaque chinese investor located at unit 1105 11 f tower 1 lippo centre no. 89 queensway admiralty hong kong . 36 37 38 the norwegian soe statoil formed a 65 35 joint venture 39 with husky energy 40 which is controlled in hong kong by li ka shing . 41 2011 edit pohang iron and steel company joint venture with fortune minerals a 768mn project 42 hd mining international was taken over by huiyong holdings bc 55 % and canadian dehua lvliang ltd. 40 % to operate the murray river project . huiyong holdings bc is 100 % owned by huiyong holdings china an opaque chinese investor . 43 44 2012 edit in october 2012 transcanada corporation and phoenix energy holdings aka petrochina soe formed a 50 50 joint venture cad 3bn grand rapids pipeline project in northern alberta operated by brion energy corp. . 45 athabasca oil corp. and phoenix energy holdings aka petrochina soe 40 60 joint venture in dover oil sands project . 46 in december 2012 malay soe petroliam nasional purchased for cad 6bn progress energy since delisted . 28 47 in december 2012 was formed baffinland now a nunavut iron arcelormittal 50 50 joint venture with the latter as project operator 48 2013 edit on 14 january 2013 jsc atomredmetzoloto a unit of armz uranium holding which in turn is controlled by russian soe rosatom bid us 1.3 bn for the 49 % stake it didn t already own in uranium one a canadian miner with holdings in khazakstan . 49 50 on 29 january 2013 altagas and idemitsu kosan formed a 50 50 joint venture named triton lng limited partnership to export alberta lng to japan . 51 52 in february 2013 exxonmobil took over celtic exploration ltd. in a deal valued at cad 3.1 bn 53 54 because of holdings in the duvernay formation . 55 in february 2013 cnooc a chinese soe purchased for cad 15.1 bn nexen canada 56 in june 2013 the h. j. heinz company was sold to berkshire hathaway and 3g capital of brazil for cad 28bn . 57 the deal had been agreed in february of that year . 58 included in this deal was the heinz tomato ketchup plant in leamington which later was closed in november 2013 57 after the october announcement by mcdonald s that they would stop serving heinz products in their restaurants because the ceo hired by heinz bernardo hees was then vice chairman of burger king which was at the time owned by 3g capital . 59 in november 2013 talisman energy sold 75 % of its montney formation gas holdings to petronas soe for cad 1.5 bn . 60 the transaction involves 127 000 acres . 61 in november 2013 petronas soe 90 % subsidiary pacific northwest lng