Feds grant Amazon approval to open Canadian warehouse

Posted by Rob Lewis

Today the Canadian federal government granted Amazon approval under the Canada Investment Act to set up a fulfilment centre warehouse in Canada.  As part of the deal, Amazon will invest more than $20 Million, including $1.5 Million for cultural events and awards and for promoting Canadian-authored books abroad.

Amazon currently uses a Canada Post subsidiary SCI Logistics in Canada because bookselling is part of the culture sector and is protected from foreign ownership.

Amazon's commitment to Canada also includes adding jobs, improving service for Canadian consumers, and increasing the visibility of Canadian and French-language products on its Amazon.ca website.

Ottawa launched a review of the company's proposal in January to determine if the investment would be a "net benefit to Canada." Not surprisingly Heather Reisman, the CEO of Canadian Indigo Books & Music, sent a letter to the Minister of Canadian Heritage asking for clarification on whether book retailing in Canada needs to majority-controlled by Canadians.

Should be interesting to see what happens to Indigo's stock price tomorrow.

Company:
Amazon
Website:
http://www.amazon.com
Location:
Vancouver, British Columbia, Canada

Amazon.com, Inc. (NASDAQ:AMZN), a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com, Inc., seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers offer millions of... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more




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