TROIS RIVIERES, Que. – Canada’s agriculture ministers say they are anxious to attract more investment into the industry, as long as the search for money does not become an interprovincial battlefield.
They agreed last week to have officials work on an investment strategy that would be debated when ministers gather again in July 1998.
Part of that will be developing a code of conduct on investment.
Agriculture minister Lyle Vanclief told a July 4 news conference the code of conduct would not be aimed at controlling the investors, who the ministers hope will ante up billions of dollars in the next few years to expand Canadian food processing capacity. It would be aimed at stopping provinces from offering special deals to attract investment.
“We are looking at whether there should be a code so we don’t get into a bidding war on investment,” he said.
The federal government has hired former Farm Credit Corporation president Gerry Penney to try to attract investment into the sector, including foreign money.
