May 17, 2019
International investment is vital to Canada’s economic growth. More investment into Canada leads to more jobs for Canadian workers and a stronger middle class. Invest in Canada provides crucial expertise, tools and connections to companies of all sizes looking to invest and grow within Canada, making it a key player in attracting foreign investments.
Today, the Honourable Jim Carr, Minister of International Trade Diversification announced the appointment of Shahrzad Rafati, as Vice-Chairperson and Mark Cohon as Director to the board of Invest in Canada. These new members will work to promote Canada as a premier destination for foreign direct investment (FDI), while simplifying processes and making it more attractive to innovate and build a global business in Canada.
Invest in Canada brings together all levels of government to promote Canada as a premier investment destination and to accelerate global investment. By promoting Canada to global investors and entrepreneurs as a diverse and open place to do business, Invest in Canada is fostering a business environment that is characterized by creativity, stability, predictability and clarity.
These appointments were made under the Government of Canada’s new approach to Governor-in-Council appointments. This approach supports open, transparent and merit-based selection processes that strive for gender parity, reflect Canada’s diversity, and support ministers in making appointment recommendations for positions within their portfolio by providing them with information and referrals.
“We are making Canada a top destination for international businesses to invest and grow their operations. As the premiere G20 country in which to start a business and as a leader among G7 nations in economic growth, Canada will continue to invest in attracting international investment, so that Canadians can continue to prosper. I have utmost confidence that Ms. Rafati and Mr. Cohon will make strong additions to the board at Invest in Canada and will continue to promote Canadian business values through their work there.”
– Jim Carr, Minister of International Trade Diversification
“Having been on both sides of the table as an investor and an entrepreneur in Canada and abroad, I’ve seen first-hand the amazing potential for Canada to draw powerful international appeal. As Invest in Canada’s Vice-chair, I’m excited to increase foreign investment in Canada that drives our economy, creates more Canadian jobs, and inspires leadership in innovation among other benefits.”
– Shahrzad Rafati, Vice-chair of Invest in Canada
“I’m honoured to serve as a Board Member of Invest in Canada and look forward to helping communities across the country find opportunities to attract investment. It is part of Canadians’ DNA to open doors to opportunities for people and companies from around the world. There’s never been a better time to promote the remarkable attributes of our country to international companies looking to invest.”
– Mark Cohon, Director of the Board of Invest in Canada
“Ms. Rafati and Mr. Cohon are dynamic additions to Invest in Canada’s board of directors. I look forward to working with them as we continue to promote and accelerate foreign investments into Canada”
– Ian McKay, CEO of Invest in Canada
Launched in 2018, the Government of Canada is providing Invest in Canada with $145 million over five years to increase Canada’s ability to attract and facilitate high-impact foreign direct investment and the jobs that come with it.
An additional $3-million in investments over 3 years for the CanExport – Community Investments pillar announced in Budget 2019 will help communities increase their capacity to retain and attract foreign direct investments.
Invest in Canada works with global companies to attract foreign direct investments (FDI) in priority sectors aligned with the government’s economic growth strategy.
International trade and foreign direct investments are vital to Canada’s economic growth and prosperity. More investments in Canada mean more jobs for Canadian workers, more growth for our economy and a stronger middle class.
Canada had an excellent year in 2018, with FDI inflows increasing by close to 60% compared to the previous year. It attracted FDI worth $51B. It is particularly striking when most other developed economies experienced a drop in their FDI inflows in 2018.
Canada is an ideal destination for foreign companies to grow their business with a stable business climate, low taxes and business costs, highly educated and skilled workforce, generous R&D incentives, and preferential access to global markets.