Carney's initiative to streamline project approvals has generated strong interest among investors worldwide
Investment is not just money but trust in a country and its future. When a state removes bureaucratic barriers, it opens the door to capital, ideas and growth. Canada today is betting on speed and predictability to attract global investors and strengthen its economy.
According to a Canadian expert, Prime Minister Mark Carney's latest initiative to streamline project approvals has generated strong interest among investors worldwide. As part of efforts to attract investment, Carney introduced the "Building a Strong Canada" bill in parliament on September 21, aimed at addressing Canada's protracted federal project approval process and setting strict one-year deadlines for decisions on major infrastructure and resource projects.
A few days earlier, from September 14 to 15, the first Canada Investment Summit was held in Toronto, bringing together more than 100 of the world's leading financial figures. Carney used the platform to announce the attraction of a trillion Canadian dollars in investment over the next five years, positioning Canada as a more reliable destination for global capital.
His proposal covered 167 investment opportunities across various sectors, including energy, critical minerals, defence and AI data centres, as part of a broader initiative to reduce Canada's economic dependence on the US amid ongoing trade tensions.
At the landmark summit, Carney also introduced the "Productivity Mega Deduction" (PMD) programme, allowing Canadian businesses to permanently and immediately write off a large portion of new capital investments. The reduction of the marginal tax rate on new investment sent a powerful signal to global investors.
Julian Karaguesian, professor of economics at McGill University and former special adviser to Canada's Department of Finance, said Carney's focus on nation-building projects marks a new era for Canada. "From 2015 until Carney became prime minister, there was a perception that Canada was not open for business. Projects took a long time to approve, there were all sorts of obstacles. We needed to solve many problems before we could attract investors from around the world.
So Carney promised to solve all these problems," he said. "I would say there was a high level of interest from the rest of the world and Canadian investors in what is happening here. Carney has generated a lot of buzz," the expert added.
Amid an escalating trade war between Canada and the US, Canada is striving to build a more self-sufficient economy in which diversified foreign investment plays a vital role.
As reported by CCTV+, Carney's initiatives to streamline procedures and attract investment could mark a turning point for the Canadian economy, but their success will depend on consistent implementation and the country's ability to diversify its economic ties.
