Toronto will host the first-ever Canada Investment Summit next week, a two-day gathering the federal government is billing as part of a push to attract $1 trillion in total investment into Canada over the next five years.
The Summit, taking place September 14 and 15, is hosted by Prime Minister Mark Carney in partnership with two of Canada’s largest institutional investors, the Canada Pension Plan Investment Board (CPP Investments) and the Public Sector Pension Investment Board (PSP Investments). Ottawa says the event will bring together global investors, Canadian CEOs and public sector representatives to try to move major projects forward and mobilize long-term capital.
In promoting the summit, the federal government points to Canada’s AAA credit rating, the lowest net debt-to-GDP ratio in the G7, and foreign direct investment that it says is at its highest level in two decades. It also cites Canada’s position as a leader in quantum technology, estimating the sector could create $140 billion in economic value as it is commercialized, and preferential trade access to 1.5 billion consumers through 16 free trade agreements covering 51 countries.
The government also linked the summit to its Major Projects Office, which it says is now overseeing 27 nation-building initiatives worth more than $192 billion in investment and over 330,000 jobs.
