Prime Minister Mark Carney is heading to New York this week as the federal government works to attract major international investment and position Canada as what it calls a global economic leader.
According to the Prime Minister’s Office, Carney will meet with investors, CEOs, entrepreneurs and business leaders during the May 27 and 28 trip while delivering remarks to the Economic Club of New York outlining Canada’s new economic strategy.
The federal government says it is aiming to help catalyse more than one trillion dollars in public and private investment over the next five years through large scale infrastructure, energy, transportation and defence related projects.
Officials point to Canada’s energy sector, critical minerals, artificial intelligence industry and relatively low debt levels as key selling points for investors.
The government says more than 22 major infrastructure and nation building projects are currently being advanced across sectors including electricity, nuclear energy, liquefied natural gas and transportation.
Carney said in a release that Canada is “an energy superpower” positioned for major growth in an increasingly uncertain global economy.
However, opposition parties and economic critics continue questioning whether the government’s large investment strategy will directly improve affordability for Canadians dealing with rising housing costs and economic pressures.
Federal Conservatives have argued Ottawa must focus more aggressively on reducing costs for families and businesses, while some economists have raised concerns about long term government spending commitments tied to large infrastructure and industrial projects.
The trip also comes amid continued economic uncertainty involving global trade, supply chains and tariffs affecting North American markets.
The Prime Minister’s Office says Canada remains one of the world’s leading destinations for foreign direct investment and continues positioning itself as a stable long term economic partner.
(Written by: Joseph Goden)
