FDI Fast Facts - No. 1 in an Invest in Canada Series
Harper Government Highlights Importance of Foreign Direct Investment to Agriculture Sector
Our dynamic agri-food sector benefits from job-creating foreign investment, says International Trade Minister Fast
December 9, 2013 - The Honourable Ed Fast, Minister of International Trade, today said foreign direct investment (FDI) is playing an important role in Canada’s dynamic agriculture and agri-food sector, ensuring that Canada remains a world leader in this vital sector.
“With one in 10 Canadian jobs linked to foreign investment, our government understands that attracting investment to key sectors such as our agri-food sector creates prosperity for Canadian workers and their families,” said Minister Fast. “As it does in other sectors, foreign investment in agriculture spurs innovation and competitiveness and leads to good jobs and greater opportunity.”
In 2012, many international investors chose Canada over other countries, helping to make its agriculture and agri-food sector one of the world’s best. Accumulated FDI in this sector in Canada reached $21.4 billion in 2012. Some notable examples include:
- In Clavet, Saskatchewan, U.S.-based Cargill invested in the expansion of its canola refinery, supporting 100 jobs.
- In Woodstock, Ontario, U.S.-based Sysco invested in the construction of a new distribution centre, which created 250 to 350 new jobs.
- In Saint-Denis-sur-Richelieu, Quebec, France-based Bonduelle invested $13 million to expand its food processing operation.
“Because of our talent, creativity and competitive costs, investors are drawn to Canada’s agriculture and agri-food sector,” said Minister Fast. “In addition, businesses from around the world recognize that our strong banking sector, low taxes and vibrant, safe communities contribute to their winning formulas. Our government will continue to position Canada as a destination of choice for global investors.”
Minister Fast is noting the benefits of FDI to the various sectors of Canada’s economy in the lead-up to this month’s release of the 2013-2014 annual report from Invest in Canada.
For more information, please visit Invest in Canada.
- FDI Fast Facts - No. 1 in an Invest in Canada Series - December 9, 2013
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For further information, media representatives may contact:
Office of the Honourable Ed Fast
Minister of International Trade
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