Industry Minister Melanie Joly says Ottawa’s industrial strategy will leverage Canada’s reputation for stability to attract more foreign investment.
Joly was at the Canadian Club Toronto Thursday laying out the federal government’s plan to protect and build up key sectors in Canada.
Joly said that with the United States’ tariff campaign disrupting global trade flows, investors are looking for certainty and Canada’s reputation for good governance makes it a stable place to invest.
She said Canada will work on reducing red tape and speeding up approval timelines to improve the business case for foreign firms looking for places to invest for the long term.
She said Ottawa is also planning to be a major buyer for Canadian firms and is building out new markets for domestic exports, in part to meet the growing demand for defence products among NATO allies.
Joly was in Washington with Prime Minister Mark Carney to meet with U.S. President Donald Trump’s administration earlier this week and she says the federal government is focused on protecting industries like steel and auto that are still struck by American tariffs.
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