Carney Seeks to Revive Canadian Economy with $1 Trillion Investment Push

Canada's first-ever national investment summit is set to take place in downtown Toronto on September 14 and 15. The event aims to attract hundreds of global and domestic investors with trillions of dollars in assets under management.

Prime Minister Mark Carney will be hosting the summit, which is a key part of his capital agenda to fix Canada's 'Achilles heel', a persistent lack of business investment that has been dragging down the economy. Since taking office 18 months ago, Carney has reoriented federal policy and Ottawa's budget framework to funnel spending to critical infrastructure and other major projects.

The summit will feature scores of deep-pocketed investors, cabinet members, premiers, and Canadian business leaders who will be showcasing major projects across the country. Alberta Premier Danielle Smith plans to pitch 34 proposed projects, while Saskatchewan Premier Scott Moe will focus on his province's energy, critical mineral, defense, and agriculture sectors.

According to a survey by the CPP Investment Board, Canada ranks well in openness to capital and execution in the energy transition, but trails only Singapore when it comes to policy stability and predictability. Nearly 70% of investors ranked predictability as extremely important or essential in decisions about where to park their money.

Jeremy Kronick, president and CEO of the C.D. Howe Institute, said that while Carney has taken steps to show Canada is 'open for business,' there's more work to be done on interprovincial trade barriers and regulatory snarls that can cause uncertainty about otherwise viable projects.