By Paul Vieira
OTTAWA-Canada's Liberal government said Friday it intends to implement wholesale changes to the regulatory-approval process that would limit review of major projects to 12 months.
Business groups and chief executives across Canada have long complained about the country's regulatory quagmire, which involves multiple reviews of proposed projects by different levels of government. This has led investors to either cancel projects or take their capital to less cumbersome jurisdictions.
"We must go further to streamline review and approvals processes, to ensure we build a stronger, more resilient Canadian economy for all," the government said in a statement outlining the roadmap ahead.
"Clear, predictable processes give investors and project proponents the certainty they need to build, and drives sustained economic growth for all Canadians," the statement said.
The key change the government wants to implement is to limit federal reviews and the decision-making timetable to one year, once all the information about the proposed project is gathered. Canada intends to begin a consultation process over the next 30 days that will include discussions with indigenous groups, other levels of government and the public.
Write to Paul Vieira at paul.vieira@wsj.com
(END) Dow Jones Newswires
05-08-26 1215ET
