Canada Aims to Raise Billions Through Airport Privatization
Prime Minister Mark Carney's Canada Investment Summit in Toronto has entered its second day. The government is looking to drum up billions of dollars in commitments to jumpstart the economy.
Fund managers controlling over $120 trillion in assets have traveled from around the world, including Australia, Singapore, and the United States. They are evaluating infrastructure projects such as pipelines, ports, and transportation networks, as well as opportunities in Canada's resource sector, from energy to critical minerals.
On Tuesday, Carney announced that Canada will seek private investment to operate its four largest airports. The government plans to raise tens of billions of dollars through this privatization, which it will then reinvest in other priorities.
The prime minister also stated that the government is on track to balance its operating budget ahead of schedule next year while maintaining the lowest overall deficit in the G7. He emphasized the need for Canada to build strength at home and diversify trade partnerships abroad.