Carney Courts Global Investors With C$1 Trillion Canada Investment Push

Canadian Prime Minister Mark Carney is hosting dozens of global investors in Toronto this week as he seeks to attract investment for more than 160 projects that he says are critical to strengthening Canada's economy amid its trade tensions with the United States.

Canadian Prime Minister Mark Carney is seeking global investment in mining, energy, technology and infrastructure projects to strengthen Canada's economy. [Photo: Mark Carney Facebok]

The two-day investment summit brings together major global investors and Canadian companies in sectors including mining, energy, technology, infrastructure and defense.

Confirmed attendees include BlackRock CEO Larry Fink, Blackstone President Jon Gray, Temasek CEO Dilhan Pillay and APG Groep CEO Annette Mosman, according to a source familiar with the event.

Carney has set a goal of attracting C$1 trillion (about US$721 billion) in investment over the next five years. His government is seeking to accelerate major projects by cutting regulatory barriers and improving approval processes.

“The world's largest investors, managing over C$120 trillion dollars of assets, will come to ‘peer into our shop window’ because the world is looking at Canada differently,” Carney said at a welcome reception.

The projects being presented to investors range from data centers and energy developments to mining and advanced transportation infrastructure.

Canadian officials hope the summit will encourage investment that can diversify the country's economic relationships beyond the United States.

Government officials have cautioned that major investments may take 12 to 18 months to materialize.

The summit is therefore intended partly to establish relationships and advance projects rather than produce immediate multibillion-dollar deals.

The investment drive comes as Canada faces continuing trade tensions with the United States. Carney's government has emphasized the need to develop domestic resources and broaden Canada's economic partnerships.

The summit has also attracted protests from labor, environmental and social-justice groups concerned about fossil-fuel development, privatization and the environmental and social consequences of some proposed projects.