Canada to create new investment hub
December 5, 2016 – Toronto, Ontario – Global Affairs Canada
Canada will dedicate $218 million over the next five years to increase investment that will create jobs and growth for the middle class. This unprecedented funding will support the creation of a new investment promotion agency, said the Honourable Chrystia Freeland, Minister of International Trade, during a keynote address today to the Toronto Region Board of Trade.
The new investment hub will be operational in 2017, with the goal of attracting new international investment while making it simple and more attractive to invest in Canada. It will build on Canada’s strengths and optimize the existing contributions of governments and the private sector.
Headed by a chief executive officer, the hub will provide seamless, single-window client support targeted at high-impact investors. Funding will allow for new investment-attraction professionals responsible for marketing, outreach, business intelligence, research and investment aftercare. A new team of trade commissioners will be dedicated to attracting investment in Canada and identifying potential investors.
“We believe that now is the time for partnerships and prosperity. Canada must be the world’s location of choice for investors, and this new hub will directly contribute to job creation and middle-class prosperity. I am thrilled today to share details about this hub that will target international investment and boost Canada’s competitive advantage around the globe.”
– Hon. Chrystia Freeland, P.C., M.P., Minister of International Trade
- The new investment hub will provide seamless, one-window concierge services; market Canada abroad; and help streamline existing efforts by Canadian cities, provincial governments, the federal government and the private sector.
- Stronger and more strategic foreign direct investment efforts will ensure that Canada is recognized as the best location for foreign investors and that they fully appreciate Canada’s skilled labour force.
- Key input for the new investment promotion agency also came from the Government of Canada’s Advisory Council on Economic Growth.
- One in eight jobs in Canada is linked to foreign investment.
- Foreign-owned multinational enterprises employed 2 million Canadians in 2013, accounting for 12 percent of all Canadian jobs and 30 percent of all manufacturing jobs.
- Government of Canada fall economic statement 2016: Chapter 2—Investing in the new economy
- Minister of International Trade Mandate Letter
- Bringing Foreign Investment to Canada (Advisory Council on Economic Growth)
- Invest in Canada
- The Canadian Trade Commissioner Service
Office of the Minister of International Trade
Media Relations Office
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