Joly Expects 160-Project Canada Summit to Yield Investment MOUs as Ottawa Courts Funds Beyond the US
Updated
Updated · The Globe and Mail · Sep 13
Joly Expects 160-Project Canada Summit to Yield Investment MOUs as Ottawa Courts Funds Beyond the US
3 articles · Updated · The Globe and Mail · Sep 13
Summary
Large foreign-investment funds are expected to announce memorandum-of-understanding deals at Canada’s two-day Toronto summit, with Mélanie Joly saying months of pre-summit talks have put several projects close to commitments.
More than 160 Canadian projects are being pitched in a government prospectus across energy, minerals, ports, utilities, digital technology, manufacturing and transportation, as Ottawa tries to draw capital for nation-building projects.
Joly said Canada can screen investments for national-security risks while giving investors clearer, more predictable rules under the Investment Canada Act, and she signaled the government may still do more on tax policy.
The summit is part of Mark Carney’s push to reduce reliance on US trade by broadening economic ties, bringing in major pension funds and investors from the Gulf and China before a Canada-EU summit in October.