Mr. Speaker, our government has made clear its commitment to an open economy that welcomes trade and benefits all Canadians. Investment by foreign companies has long played an important role in our economy, but we acknowledge that such investment must be to Canada's net benefit.

Because investment flows into the country are important, Canada has put in place a broad framework to promote trade and investment while at the same time protecting Canadian interests.

The Investment Canada Act is the primary mechanism for reviewing foreign investments in Canada. In making this decision, as in all decisions under the ICA, the facts around the investment, the investor's plans for the Canadian business, and its undertakings were considered. Also, in conducting reviews under the ICA, relevant provincial governments and other federal departments are consulted for their views and expertise.

In this case, British Columbia's Ministry of Health was consulted and a number of third-party submissions informed the review. The review process is thorough and rigorous and not a rubber-stamp exercise, as the hon. member has suggested. The licences for Retirement Concepts were issued by the Government of British Columbia, which regulates senior care facilities in the province. B.C.'s regulatory regime imposes rigorous standards of care on all operators of residential care and assisted living facilities, regardless of their ultimate ownership.

The B.C. Health Authorities have approved the new ownership and have confirmed this. Retirement Concepts will continue to remain subject to the provincial regulatory requirements by the British Columbia Ministry of Health under its Community Care & Assisted Living Act. Does the member opposite not trust that the provincial authorities have the ability to oversee retirement residences?

With regard to ICA, Cedar Tree must report regularly to the minister on its compliance with the undertakings. Officials continue to carefully monitor Cedar Tree's compliance.

Celina Caesar-Chavannes

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