China is seen to take immense interest for investment in Canada, mainly in the clean technology businesses. A business delegation from China has recently toured Canada and has met the Prime Minister of Canada, Mr. Justin Trudeau. Mr. Wang Chaoyong, the chairman and CEO of ChinaEquity, one of China’s leading independent venture capital companies has expressed interest in making Canada the next destination for foreign investments of China in the Canadian clean technology firms. He has said that China is interested to invest in the innovative environment technologies and Canadian companies are the most suitable due to the popularity and demand of Canadian products in China. He felt that the collaboration between the Chinese and the Canadian companies could be beneficial to both countries.
Canada may become a soft target for cyber threat
As per reports by a leading Analytics company in Canada, there are around 800 companies in Canada that are working on Clean Technology mechanism. They employ a workforce of around 55,000 people. There is a huge potential for the growth of business in this sector as the awareness level regarding environment protection is on the gradual rise. There are huge scopes for these companies to tap this potential all over the globe. But on the other hand, a sense of threat has also been voiced by some of the cyber-security professionals. According to them, there are huge chances of hacking as things are at a nascent stage. Being an excellent target for cyber threats Canada needs to be careful. According to Murphy, CEO of Defence Intelligence, organizations should be doubly cautious while dealing with Chinese firms due to their dubious nature of doing business.
Government is confident of security checks
The Canadian government is confident that no attacks can harm the economy of Canada as all security checks are in place. As per the Public Safety Minster, Ralph Goodale, there are government processes for dealing with foreign investment related issues. The government would ensure holistically to the benefit of the nation by the foreign investments along with the required security measures. The opposition too is wary of the Chinese investments and has pressed upon the government to go slow and scrutinize every step that needs to be taken. The pas affairs of the Chinese companies need to be examined; their business dealings and their credibility have to be judged before taking any step. The future prospects too need to be studied in details.
