The Honourable François-Philippe Champagne, Minister of Innovation, Science and Trade, made the next assertion:
“In accordance with the Funding Canada Act, overseas investments are topic to evaluate for nationwide safety considerations.
“On account of the Authorities of Canada’s multi-step nationwide safety evaluate course of, which entails rigorous scrutiny by Canada’s nationwide safety and intelligence group, the Authorities of Canada, by means of the Governor-in-Council, has ordered the dissolution of the Canadian companies carried on by Bluvec Applied sciences Inc. and Pegauni Know-how Inc., and for these firms to stop all operations in Canada.
“The federal government’s selections are primarily based on details and proof and on the recommendation of Canada’s safety and intelligence group and different authorities companions.
“While Canada continues to welcome foreign direct investment, we will act decisively when investments threaten our national security.”