Prime Minister Mark Carney has positioned Canada as a secure destination for global investment, aiming to attract capital from major investors navigating an era of geopolitical and economic volatility. Speaking at a significant investment summit in Toronto, Carney asserted that Canada is "perfectly situated to build in the new global economic order."
The summit convened over 100 representatives from global investors and sovereign wealth funds, collectively managing more than C$120 trillion (approximately $86 trillion USD) in assets. Carney's objective is to encourage investment across key sectors such as defense, energy, mining, artificial intelligence, and infrastructure.
Ottawa hopes to engage investors with over 160 projects, ranging from data centers to pipelines, as the country confronts ongoing trade disputes with its largest trading partner, the United States. The ongoing trade friction has prompted Carney to pursue expanded economic partnerships with Europe, Asia, and the Middle East, with the aim of reducing Canada's reliance on its southern neighbor.
"Our goal is simple: to make Canada the most attractive place in the G7 to invest," Carney stated Tuesday morning. As part of this strategy, he announced plans to privatize operations for four of Canada's major airports, a move expected to generate billions of dollars for reinvestment in transport infrastructure.
Many of the business leaders attending the Toronto event received personal invitations from the prime minister, who has a background in global finance and served as a central banker prior to entering politics. While much of the summit's activity is scheduled for private sessions and bilateral meetings, panels are set to feature prominent figures including Deutsche Bank AG CEO Christian Sewing, Bombardier executive Eric Martel, and BlackRock CEO Larry Fink and Blackstone president Jon Gray.
For Carney, the summit represents a critical test of his ability to enhance Canada's economic resilience. Trade talks between Ottawa and Washington collapsed last month, leading to retaliatory tariffs. New U.S. tariffs on several Canadian goods took effect Tuesday, while some existing tariffs were lifted, with bans on items such as alcohol and motorcycles slated for implementation next week.
Addressing American executives present in Toronto, Carney emphasized the enduring relationship between the two nations. "To our American friends, let me say this. We will always be neighbors, and Canada will continue to be the U.S.'s most important partner in many key areas," he said. "After all, even at times of disagreement during our long history, we have always maintained deep ties."
Meanwhile, protestors gathered outside the summit's opening night gala, criticizing the government's approach. Accusations of a "great Canadian sell-off" of public resources and infrastructure to corporate interests were voiced. Kai Nagata, representing the advocacy group Dogwood, stated, "Half the buyers that he has invited here to Toronto are American. Let's be clear, every piece of our country that we sell off to American billionaires brings us closer to becoming the 51st state."