The Competition Policy Review Panel will review two key competition and investment policies, as well as the treatment of state-owned enterprises and the possibility of adding a clause to nix tie-ups deemed a threat to national security.

The aim is to encourage greater foreign investment and create more and better jobs for Canadians, Industry Minister Maxime Bernier said in a statement.

"The global economy has changed significantly in the last decade," said Bernier. "Trade agreements have opened national markets, while international investments have reached unprecedented levels."

"Our competition and investment policies must be working fully to the benefit of Canadians in this environment. This is why this review is important."

The panel will also examine Canada's restrictions on foreign direct investment, and the competition and investment regimes of other jurisdictions to assess reciprocity of their rules with Canada.

Finally, the panel is expected to offer suggestions to encourage outward investment.