In 1970, the Wahn Report expanded the idea of a screening process, and finally the Gray report (known officially as Foreign Direct Investment in Canada) provided the rationale and framework for the agency.
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The Liberal government of Prime Minister Pierre Trudeau instituted attempts to assert domestic economic control such as the creation of Petro-Canada, meant to assert Canadian control of the energy sector, and the Foreign Investment Review Agency, intended to review and limit foreign ownership and particularly American takeovers of Canadian companies.