Canada is a ‘safe harbour’ for global finance, Carney says
Prime Minister Mark Carney has pitched Canada as a “safe harbour” for some of the world’s largest investors to spend their money in an era of geopolitical and economic uncertainty. The country is “perfectly situated to build in the new global economic order”, he told more than 100 global investors and sovereign wealth fund representatives [...] The post Canada is a ‘safe harbour’ for global…
Prime Minister Mark Carney has positioned Canada as a "safe harbour" for some of the world's largest investors during a major investment summit in Toronto. He believes Canada is "perfectly situated to build in the new global economic order" and aims to attract over C$120tn ($86tn; £64tn) in assets from over 100 global investors and sovereign wealth fund representatives.
Carney hopes these investors will be interested in 160 projects, ranging from data centers to pipelines, which could help Canada weather its trade war with the US. Canada has been looking to expand economic partnerships with Europe, Asia, and the Middle East as it seeks to reduce its reliance on the US. Prime Minister Carney announced plans to privatise operations for four of the country's largest airports, which could raise billions of dollars for reinvestment in transport infrastructure.
Many attendees received personal invitations from the prime minister, who has a background in global finance and central banking. The summit serves as an opportunity for Canada to improve its reputation as a good place to do business and test Carney's ability to enhance the country's economic resilience.
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