I am pleased to present the fourth edition of The Foreign Investment Regulation Review. This year’s edition features contributions from 46 authors from 21 countries. Our contributors provide important insight into the regulatory framework for foreign investment review in their respective countries, as well as an overview of current trends and developments in this field.
In 2015, global foreign investment increased to its highest level since the global economic crisis began in 2008. The primary factor in the global growth of foreign investment was the significant increase in cross-border mergers and acquisitions.
Within this context, foreign investment reviews will continue to present complex issues for businesses, regulatory authorities and legal counsel. Legal practitioners and companies seeking to do business internationally will benefit by familiarising themselves with the regulatory frameworks outlined in this treatise. Of particular importance, this edition provides readers with practical guidance to navigate investments in major jurisdictions by anticipating key timing and substantive issues. It also brings to the readers’ attention key policy or ‘soft’ considerations when investing in a particular jurisdiction. We hope this edition will assist investors and businesses being acquired to better evaluate and manage the legal and political risks associated with investments that may be subject to foreign investment review, ultimately reducing transaction uncertainty and delay.
I would like to express my gratitude to each author and law firm involved in this project for the commitment of both their expertise and their time.
Brian Facey is the chair of the Blakes competition, antitrust and foreign investment group, widely regarded as the leading practice in Canada. Who’s Who Legal: Competition (2016) places Brian among the most highly regarded individuals in competition law worldwide, and he is the only lawyer in Canada to hold this distinction. For almost 25 years, Brian has advised clients in hundreds of regulatory matters, including cross-border and domestic merger transactions, criminal cartel cases, class actions, and distribution and advertising matters. He has also secured approvals under the Investment Canada Act and the state-owned enterprise guidelines on behalf of foreign-controlled investors in many of Canada’s key industries.
Brian is recognised as one of Canada’s leading lawyers in every major lawyer-ranking publication, including: Chambers Global: The World’s Leading Lawyers for Business (2016); Expert Guide: The Best of the Best 2016 (Legal Media Group’s top 30 competition and antitrust attorneys in the world); Who’s Who Legal: Competition 2016; The Canadian Legal Lexpert Directory (2016) (‘Most Frequently Recommended’); The Legal 500 – Canada (2015) (‘leading lawyer’ in competition/antitrust). The Globe and Mail, one of Canada’s leading business newspapers, referred to Brian as one of Canada’s most prominent lawyers. He is also recognised by Lexpert magazine as a top competition litigation counsel.
The publisher acknowledges and thanks the following for their learned assistance throughout the preparation of this book: