(Corrects "now" to "not" in 2nd paragraph)
By Randall Palmer
OTTAWA, March 18 Canada remains open to foreign
investment but will be cautious about liberalizing rules for
sensitive sectors since such decisions tend to be irreversible,
Industry Minister Christian Paradis said on Monday.
"When you decide to go with these kinds of reforms, you
cannot ratchet down after that. You can ratchet up but not
down," Paradis told Reuters in an interview in his office.
He was answering questions about government plans in light
of the 2008 Red Wilson report on boosting competition. It urged
the government to liberalize or consider liberalizing foreign
investment rules in telecommunications and broadcasting, the
airline industry and uranium mining, and to allow mergers in the
Paradis did lift restrictions on foreign investment in
telecommunication providers with less than 10 percent of the
market, but he said the Red Wilson report advocated a broad
review before opening the sector up further or allowing more
foreign investment in broadcasting.
"We are not there at this point," he said.
Even so, he hinted at that possibility in the event that
current measures to boost telecom competition failed to bring
lower prices and more choice for consumers.
"We cannot guarantee we will achieve what we want to achieve
in terms of goals, when you talk about competition," he said.
(Editing by Frank McGurty)