Canada Seeks €622 Billion in Foreign Investment to Diversify Economy
Canadian Prime Minister Mark Carney has announced an ambitious plan to attract foreign investment and reduce the country's dependence on the United States. The goal is to mobilize C$1,000 billion (approximately €622 billion) over five years through a summit that brought together investors from around the world.
The Canadian government is offering tax incentives and streamlined administrative procedures to attract investment in strategic sectors such as energy and critical minerals. Carney presented Canada's mineral resources as a key lever for strategic autonomy, and highlighted a new pipeline project aimed at carrying 1 million barrels per day to Asian markets.
The summit in Toronto featured representatives from Gulf states, China, and the US, including Bank of America, KKR, Macquarie, and Carlyle. Carney emphasized Canada's intent to diversify funding sources for major industrial and energy projects, while also maintaining a strong relationship with the US.