Feds to overhaul immigrant-investor program to give minister more power

Posted: 04/13/2012 3:41 pm Updated: 04/13/2012 7:09 pm

VANCOUVER - New changes to the government program for immigrant investors will put more power in the hands of the minister in charge of immigration.

Right now, that's Citizenship and Immigration Minister Jason Kenney, who is announcing plans to amend the Immigration and Refugee Protection Act so he can create specialized programs to quickly respond to market demand.

The department suggests one such program could help bring new investors to Canada.

Kenney will now meet businesses and his provincial and territorial counterparts to come up with ways to overhaul the investor program.

"We can no longer be a passive player in the global competition for talent and investment," he said in a statement. "That is why we need to review and amend our immigration laws to create dynamic programs that allow immigrants' investments to directly benefit the Canadian economy.

"I am open to creative ideas and suggestions from the business community on how to maximize the economic benefits of such programs to Canada."

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