Foreign investments into Canadaare vital to Canada’s economic growth. More investment in 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 Murad Al-Katib as a director to the board of Invest in Canada. Mr. Al-Katib joins the recently appointed Shahrzad Rafati as vice-chair and Mark Cohon as a director in promoting Canada as the premier destination for foreign direct investment (FDI).
Invest in Canada brings together all levels of government to promote Canada as an 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 characterized by creativity, stability, predictability and clarity.
The appointment of Mr. Al-Katib was 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 to reflect Canada’s diversity while supporting ministers in making appointment recommendations for positions within their portfolio by providing them with information and referrals.
“As the premier G20 country in which to start a business and 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 the utmost confidence that Mr. Al-Katib will make a strong addition to the board at Invest in Canada and will join Invest in Canada’s efforts to promote Canadian business values around the world.”
– Jim Carr, Minister of International Trade Diversification
“The integration of investment attraction and investment promotion with our international trade agenda is of the utmost importance to the Canadian economy. The prosperity of Canadians depends on our success in this area for generations to come. As we continue to diversify our export markets, these same countries are our natural partners in joint investments in global value chains.”
– Murad Al-Katib, Director, Invest in Canada
Launched in 2018, Invest in Canada receives $145 million over five years from the Government of Canada to increase Canada’s ability to attract and facilitate high-impact foreign direct investment and the jobs that come with it.
Invest in Canada works with global companies to attract FDI in priority sectors aligned with the government’s economic growth strategy.
International trade and FDI are vital to Canada’s economic growth and prosperity. More investment in Canada means more jobs for Canadian workers, more growth for the economy and a stronger middle class.
Canada had an excellent year in 2018, with FDI inflows increasing by close to 60% compared to that of the previous year. Canada attracted FDI worth $51 billion. This 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 businesses due to a stable business climate, low taxes and business costs, a highly educated and skilled workforce, generous R & D incentives and preferential access to global markets.