Foreign ownership hearings to begin January 27
The House of Commons Standing Committee on Industry, Science and Technology announced last week that hearings on potential changes to current restrictions on foreign investment in Canadian telecommunications firms will begin on January 27. The committee still has to clear other items off its plate before the study can begin (RoW, Dec. 9/02 and Nov. 25/02).
"Our review of the foreign ownership restrictions in the telecommunications sector will be a thorough investigation of their impact on investment and on sovereignty in light of the essential role played by this sector in a knowledge-based economy," Walt Lastewka, chair of the Committee, said in a news release. "Maintaining a modern, domestic infrastructure in telecommunications requires periodic review of laws and regulations to ensure that they provide the right mix of incentives to achieve a proper balance between national sovereignty and economic prosperity objectives."