Prime Minister Carney to kick off first investment summit in Toronto

Canada's Prime Minister Mark Carney is set to host the world's investors in Toronto on Monday for a significant investment summit. The one-day event aims to attract new investment to Canada, with Carney and his cabinet members and provincial premiers set to highlight opportunities in various sectors, including energy, infrastructure, and critical minerals.

Carney emphasized Canada's strengths, stating that the country possesses energy, resources, talent, technology, and capital. He also stressed that a key strength lies in trust, a concept he believed sets Canada apart from the United States. Carney expressed optimism about the future, claiming that Canada is taking control of its destiny, with a new consensus emerging across the country.

The summit, the first of its kind, is a crucial component of the prime minister's strategy to stimulate $1 trillion in investment over the next five years. Ontario Premier Doug Ford echoed similar sentiments, highlighting 15 major projects in Ontario up for grabs, encompassing energy production, transmission, critical minerals, AI, and advanced manufacturing. Ford outlined Ontario as a highly attractive location for investments, aiming to showcase Ontario's potential to the world.

While the invitation list features investors from various countries, including Kuwait, Malaysia, the Netherlands, Singapore, Qatar, Norway, Japan, and Australia, there are concerns from civil society groups about the event. These groups, comprising labor unions, Indigenous leaders, and climate and housing advocates, are set to protest the summit, criticizing the reliance on CEOs and expressing concerns over public services, pipelines, and arms manufacturing.

Despite the opposition, the summit is expected to attract hundreds of executives and global asset managers who will engage with Carney, cabinet members, and provincial officials throughout the day.