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How Carney plans to sell Canada to the world's biggest investors - BBC
Business and Economy9/13/20261 min read
In the midst of a trade war with the US, the prime minister leveraged his connections in global finance to invite some of the world's biggest investors to Canada.
β¨ Key Highlights
- Canadian Prime Minister Mark Carney is hosting a two-day summit in Toronto, bringing together more than 100 global investors who collectively manage over C$100tn ($72tn) in assets, aiming to attract fresh investment to Canada.
- The push follows a deep rift with the United States, with Carney declaring the two countries' long-standing economic and military relationship "over" amid collapsed trade talks, reciprocal tariffs, and Donald Trump's "51st state" rhetoric.
- Attendees include sovereign wealth funds from the United Arab Emirates and Norway, along with finance leaders such as BlackRock's Larry Fink and Blackstone president Jon Gray, with Carney opening the event via a private dinner and keynote address.
- Carney intends to promote Canada's energy and resource sectors and its political stability, seeking investment in AI, defence, transportation, and infrastructure as part of a strategy to build a "more independent, more resilient economy."
- Success is not guaranteed, as Canada faces a reputation for lengthy project approvals, and a report by co-host the Canada Pension Plan Investment Board warned that the country's limited scale and depth of investible opportunity is its greatest weakness.
- Naomi Powell of the CPP Investments Insight Institute cautioned that "opportunity alone does not make a market investible," while former prime minister Stephen Harper, who appointed Carney to lead the central bank, is set to close the conference.
There, Carney hopes to pitch them on Canada's energy and resource sectors, as well as the countrys political stability, in the hopes of getting them to invest in AI, defence, transportation, and infr