Harper Government Promotes Canada at Calgary Stampede as Top Destination for Investment

Canada’s rock-solid economic fundamentals provide an excellent climate for foreign investors

July 4, 2013 - The Honourable Ted Menzies, Minister of State (Finance), on behalf of the Honourable Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway, today highlighted Canada’s strengths as an investment destination in his welcoming remarks at an investment event sponsored by the governments of Canada and Alberta.

“Our government’s top priority is jobs, growth and long-term prosperity,” said Minister Menzies. “Canada’s winning formula includes low taxes, a highly skilled work force and a strong commitment to free and open trade. The Calgary Stampede is the perfect venue to corral global investors and highlight these many investment advantages.”

Minister Menzies joined Alison Redford, Premier of Alberta, at the event as well as David Collyer, President of the Canadian Association of Petroleum Producers.

Canada’s competitive advantages and sound economic fundamentals have been lauded by many credible international organizations and publications:

  • For the past five years, the World Economic Forum has rated Canada’s banking system as the world’s soundest. It also ranks Canada the number one G-7 country for the quality of its educational system.
  • The International Monetary Fund reports that Canada has the lowest debt level and one of the fastest growth rates among the G-7.
  • KPMG says that Canada offers the lowest business costs among G-7 countries for R & D intensive sectors.
  • The Economist Intelligence Unit ranks Canada as the best G-7 country in which to do business over the next five years.
  • The Organisation for Economic Co-operation and Development reports that Canada has the most highly educated workforce among G-7 countries.

“Foreign investment is linked to one in 10 Canadian jobs, making it a key driver of the Canadian economy,” said Minister Menzies. “Attracting new foreign investment supports jobs and prosperity for Canadian workers and their families. Foreign direct investment has contributed to Canada’s economic recovery, which has seen over a million new jobs since July 2009—giving Canada 479,000 more jobs than during the pre-recession peak and the strongest growth among G-7 countries.”

Minister Menzies also reiterated the Harper government’s support for the Keystone XL project, which will contribute to energy security in Canada and the United States and create thousands of construction and manufacturing jobs on both sides of the border.

- 30 -

For further information, media representatives may contact:

Rudy Husny
Press Secretary
Office of the Honourable Ed Fast
Minister of International Trade and Minister for the Asia-Pacific Gateway

Media Relations Office
Foreign Affairs, Trade and Development Canada
Follow us on Twitter: @Canada_Trade