Canada makes pitch as safe place to invest in ‘uncertain world’

Canada is pitching itself as a secure investment destination in an uncertain global landscape, according to Finance Minister Francois-Philippe Champagne. Speaking to AFP ahead of a high-stakes investors' summit, Champagne emphasized Canada's strengths amid rising demand for critical minerals, reliable energy, and a push to reduce reliance on the US.

Despite trade tensions between the US and Canada stemming from former President Donald Trump's tariffs, major US investors, including Bank of America and Berkshire Hathaway, have confirmed attendance at the summit. Notable attendees also include African billionaire Aliko Dangote and Gulf investment agency representatives. Champagne highlighted the presence of over C$120 trillion (US$86 trillion) in global capital that could potentially invest in Canada.

The finance minister dismissed historical criticisms of Canada's complex approval processes, stating that such issues are now resolved. He emphasized that the world is changing, with a growing demand for critical minerals and energy, both of which Canada possesses in abundance. Champagne also noted that trust has become the most sought-after commodity in today's investment climate, positioning Canada as a trusted partner in a volatile world.

Prime Minister Mark Carney has made securing closer ties with Europe a cornerstone of his strategy, away from the US. Carney is set to address the European Parliament following the summit and has been working on strengthening the Canada-EU alliance. Champagne sees Canada's reliability and predictability as key factors that set the country apart as a desirable investment partner.