Canada News Release
Harper Government Promotes Canada as Best Place to Invest
International Trade Minister Peter Van Loan launches Focus on Canada conference with U.S. and global business leaders on visit to New York City
(No. 46 – February 3, 2011 – 10:15 a.m.) The Honourable Peter Van Loan, Minister of International Trade, today launched the first of seven Focus on Canada conferences on global investment while on an official visit to New York City.
“Our government’s top priority is the economy,” said Minister Van Loan. “With the global economic recovery still fragile, we are focused on creating jobs and economic growth, and promoting Canada as open for business. Today, I am in New York City, the world’s financial capital, to promote Canada as a place to invest and prosper.”
The Financial Times Focus on Canada events will be held in seven major cities in the United States: New York City, Boston, Chicago, Houston, Dallas, Seattle and Los Angeles.
The conferences bring together U.S. and global business leaders to attract job-creating investment to Canada. The discussions are focused on the advantages of Canada’s open markets and low taxes for job creators, which encourage global business investment. These advantages include:
- the lowest overall tax rate on new business investment among the major developed economies (G-7);
- the lowest debt and deficit of those major economies;
- the world’s soundest banking system, according to the World Economic Forum;
- among the fastest economic growth in the G-7, which is projected to continue into the future, according to the International Monetary Fund;
- the most skilled workforce, with the highest proportion of post-secondary graduates in the Organisation for Economic Co-operation and Development;
- the most generous research and development (R&D) tax incentives in the industrialized world; and
- an outstanding quality of life, with safe streets, a high standard of living, universal health care, a sound educational system and a beautiful natural environment.
The Harper government is opening doors for Canadian business by concluding new free trade agreements with eight countries, while negotiating economic partnerships with two of the world’s largest economies: the European Union and India.
“Canadian businesses and workers can compete with the best in the world, confident that our government will continue Stephen Harper’s low tax plan to protect and create jobs and open new markets for our families and businesses,” said Minister Van Loan.
Here is what U.S. companies are saying about investing in Canada.
“Canada is a great place to invest. Our company expanded operations into Canada to take advantage of a skilled workforce and innovative research and development facilities,” said Frank Ciriello, senior vice-president of new markets, Eisai, Inc. Eisai is a human health-care company that discovers, develops and markets pharmaceutical products throughout the world. “Today’s event provides an excellent opportunity for companies to learn more about Canada’s competitive advantages and consider how Canada could fit into their overall business plan.”
“General Electric has operated successfully in Canada for over 100 years, and we continue to grow and invest in the country,” said Elyse Allan, General Electric Canada’s President and CEO. “Building on a competitive corporate tax rate, a friendly business climate and great relationships with the federal and provincial governments, we have recently announced global centres of excellence and important collaborative research projects in energy, water and health care. For us, Canada is a country of enormous opportunity.”
For more information, please visit Invest in Canada.