Carney courts global capital as Canada seeks to reduce reliance on U.S. economy

(Horizon Media / TORONTO)— Prime Minister Mark Carney is hosting hundreds of senior executives and major institutional investors in Toronto this week as Canada seeks to attract new global capital and reduce its economic dependence on the United States.

The Canada Investment Summit, being held September 14–15, brings together roughly 300 business leaders and investors managing more than $120 trillion in assets.

Ottawa says it hopes to catalyze as much as $1 trillion in investment over the next five years, targeting sectors including energy, critical minerals, infrastructure, technology, defence and advanced manufacturing.

More than 160 Canadian projects and investment opportunities are being presented during the summit, with representatives from major international investment firms and sovereign funds, including BlackRock, Blackstone and Singapore’s Temasek.

The gathering comes amid continuing Canada-U.S. trade tensions and a broader effort by the Carney government to diversify Canada’s trade and investment relationships. While the United States remains by far Canada’s largest trading partner, Ottawa has increasingly sought to attract greater investment from Europe, Asia and other international markets.

Carney has promoted Canada as a stable destination for global capital, highlighting its natural resources, skilled workforce, financial system and access to international markets through a network of free-trade agreements.

The summit, organized in partnership with CPP Investments and PSP Investments, is intended to connect major investors directly with Canadian projects. Although immediate agreements are not expected in every case, Ottawa hopes the gathering will lead to significant investment commitments in the months and years ahead.