Carney's Investment Pitch Aims to Steer Canada Through Trade War
Canadian Prime Minister Mark Carney is hosting an investment summit in Toronto this week to attract foreign investments for over 160 projects aimed at steering Canada's economy through a trade war with the United States.
The two-day summit, which begins on Monday, brings together dozens of global investors, including BlackRock CEO Larry Fink and Singapore fund Temasek's CEO Dilhan Pillay. Carney has pledged to attract investments of C$1 trillion ($721 billion) in the next five years by cutting red tape and developing mining, energy, technology, and infrastructure projects.
The government is pitching Canada as a stable and predictable market poised for long-term economic growth, with opportunities including an equity investment for Xanadu's photonic quantum computer targeted for commercialization by 2029-2030. The Crawford Nickel Project, which will produce low-carbon nickel for batteries and green steel, is also on the list.
Canada's foreign direct investment flows have been steadily rising since 2022, with a quarterly average around C$23 billion in 2024 and 2025, and C$20 billion so far this year. However, economists caution that it is difficult to lure greenfield investments in a mature economy like Canada's.