The next step in Carney’s invest-in-Canada plan
4/22/202625 min
The big sell is on. Prime Minister Mark Carney’s government has promised to raise $500-billion dollars of private investment over the next five years to reposition Canada as an important player in international business. The goal is to capture billions in foreign investments by selling, in Carney’s words, “what the world wants” – energy, critical minerals and an educated workforce. And a government-led summit this year to bring wealthy investors to Canadian soil will be the site of their biggest sales pitches yet.
James Bradshaw, The Globe’s Institutional Investing reporter, explains why Canada craves foreign investment, how those funds could help the economy and whether Carney and other Canadian leaders can woo billions in business.
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Clips
Transcript preview
First 90 secondsCheryl Sutherland· Host0:00
[chime] Prime Minister Mark Carney posted one of his Speaking to Camera videos on YouTube over the weekend to reassure Canadians about the road ahead. He called it Forward Guidance.
Mark Carney· Soundbite0:13
It was designed to assure people that however difficult the situation seemed on any given day, that we were acting, and importantly, that we would continue to act with overwhelming force against our problems until they were solved.
Cheryl Sutherland· Host0:28
[upbeat music] But buried in this video was a pitch not for the Canadians watching, but for the rest of the world. It was Carney's pitch to foreign investors about the value of our country.
Mark Carney· Soundbite0:41
Because Canada has what the world wants, from energy to education. We have the values to which most of the world aspires, and we're a reliable partner in a world that is anything but.
Cheryl Sutherland· Host0:52
For the last year, Carney has been traveling all over the world to make this pitch. And later this year, he's gonna bring it home at something called the Canada Investment Summit. The prime minister will be hosting it with some senior government leaders and two of Canada's biggest pension plans. James Bradshaw is The Globe's institutional investing reporter. He's here to explain what could come of a group of wealthy investors congregating in Toronto, how it could actually help Canada, and whether Carney can really deliver on his promise to drum up half a trillion dollars