MNI: Canada Sees Projects Of National Interest As Pre-Approved

Prime Minister Mark Carney introduced legislation Friday deeming infrastructure projects such as energy pipelines in Canada's interest as being pre-approved for construction within two years, part of an effort to streamline regulations that investors have criticized as overly burdensome.

"The goal is to send a clear early signal, to build investor confidence and get projects to investment and construction faster," according to a government news release. "Once a project is listed under the schedule, the legislation would have the effect of securing federal regulatory approvals, subject to conditions that will be established by a designated minister." (See: MNI INTERVIEW: Carney Quebec Gain Boosts Pipeline Odds- Surkes)

"The federal government would consider major projects brought forward by provinces, territories, and Indigenous partners, and consult with these same partners in determining projects of national interest," the release said. The legislation builds on Carney's statement earlier this week the aim is cutting reviews down from five years, and that nationally important projects will make a significant contribution to the economy or national security. 

Carney has said Canada must reduce the three-quarters of its exports sent to a more unreliable United States amid Donald Trump's threats of economic domination. The legislation alluded to this saying expedited projects "would strengthen access to Canadian resources, goods and services to a diverse group of reliable trade partners."