Quebec is making its case to some of the world’s largest investors, positioning the province’s clean energy resources, manufacturing base and critical minerals as central to Canada’s effort to attract more private capital.
Quebec Finance Minister Eric Girard represented the province at the Canada Investment Summit in Toronto, telling The Canadian Press that “Quebec is at the centre of the transformation of the Canadian economy.” Girard pointed to the province’s manufacturing sector, clean energy capacity, defence expertise and reserves of critical and strategic minerals as key strengths.
The federally organized summit brought together hundreds of business leaders, financial institutions, governments, project proponents and foreign investors. Girard, who arrived in Toronto on Monday, said the foreign investors in attendance were the most important part of the gathering, describing a mix of private companies, financial intermediaries, major financial institutions, governments and project proponents all present to study potential projects.
A Longstanding Investment Shortfall
Girard said Canada and Quebec are dealing with a shortfall in private investment, a problem he said existed before the current trade tensions and before Donald Trump returned to the White House. Investors attending the summit, including BlackRock, the world’s largest asset manager, were presented with a range of Canadian and Quebec projects. Girard said many of these projects require billions of dollars in investment.
He described the projects on offer as capital-intensive, noting there is also considerable uncertainty around prices by the time such projects would ultimately be carried out.
Public Money as a Starting Point, Not a Solution
Girard said the Quebec government is willing to contribute public funds to help projects get off the ground, but wants that involvement to remain limited. He said this makes private and foreign investment essential, so that private capital carries most of the risk on projects considered important to Quebec’s economy.
Several major companies and institutions with a presence in Quebec were represented at the summit, including Bombardier, Desjardins and Rio Tinto. Also on the participant list were Hydro-Québec chief executive Claudine Bouchard, La Caisse president and chief executive Charles Emond, and Rio Tinto chair and former Canadian ambassador to China Dominic Barton.
Girard called the gathering unprecedented in its ability to bring together so many major international investors in one place. However, he cautioned that the summit’s ultimate success would not be evident right away, estimating it could take up to two years to determine whether it delivers real results.
This article is for informational purposes only and does not constitute financial, investment, or legal advice. Consult a licensed financial advisor before making investment decisions.
This article references reporting from:
