FDI Fast Facts - No. 3 in an Invest in Canada Series
Harper Government Highlights Importance of Foreign Direct Investment to Information and Communications Technologies Sector
Backed by our talent, creativity and competitive costs, investors are drawn to Canada’s information and communications technologies sector, says International Trade Minister Fast
December 10, 2013 - The Honourable Ed Fast, Minister of International Trade, today said foreign direct investment (FDI) is playing an important role in Canada’s dynamic information and communications technologies (ICT) 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 new investment to key sectors such as ICT creates prosperity for Canadian workers and their families,” said Minister Fast. “As it does in other sectors, foreign investment in ICT spurs innovation and competitiveness and leads to good jobs and greater opportunity.”
In 2012, ICT employed about 632,000 people. Many international investors chose Canada over all other countries, helping to make its ICT sector, which includes digital media, games, software, and wireless and mobile communications, one of the world’s best. Accumulated FDI in the ICT sector was $13.8 billion in 2012. Some notable examples include:
- Global heavyweights such as Alcatel-Lucent, Cisco, Ericsson and Ciena have invested in Canada’s wireless industry by establishing R & D centres in major Canadian cities.
- In Halifax, Nova Scotia, U.K.-based game-development studio Frontier Developments opened its first North American office, with 20 staff.
- In Vancouver, British Columbia, Black Tusk Studios, a subsidiary of U.S.-based Microsoft, will open a new studio, with 55 staff.
“Backed by our talent, creativity and competitive costs, investors are drawn to Canada’s information and communications technologies 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 foreign direct investment to various sectors of Canada’s economy in the lead-up to this month’s release of the 2013-14 annual report from Invest in Canada.
For more information, please visit Invest in Canada.
- FDI Fast Facts - No. 2 in an Invest in Canada Series - December 9, 2013
- 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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