Government welcomes report from industry leaders outlining ambitious goals to increase Canadian global competitiveness
25 Sep, 2018, 09:23 ET
Economic Strategy Tables represent unique collaboration between industry and government
OTTAWA, Sept. 25, 2018 /CNW/ - In a new model of collaboration with the Government of Canada, industry leaders from six sectors with high-growth potential represented by the Economic Strategy Tables have proposed an ambitious roadmap to guide federal efforts in making Canada more globally competitive.
The collective recommendations, contained in a report titled The Innovation and Competitiveness Imperative: Seizing Opportunities for Growth, were made public today. The Tables also released specific proposals for each of the six sectors with high-growth potential: digital industries, advanced manufacturing, agri-food, clean technology, health and biosciences, and resources of the future.
The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, received the reports on behalf of the Government of Canada and thanked the Chairs and members of the Tables for their hard work and leadership in this important national effort.
The Economic Strategy Tables, together with ongoing flagship initiatives such as Innovative Solutions Canada, Connect to Innovate and the Innovation Superclusters Initiative, are part of the Government's Innovation and Skills Plan to create well-paying jobs and strengthen the middle class by investing in high-growth sectors where Canada has a globally competitive advantage.
"These recommendations build on our ambitious plan for economic growth that's already resulted in over 600,000 good new middle-class jobs and the lowest unemployment rate in a generation. We are working closely with entrepreneurs and innovators to make Canadian businesses more globally competitive so they can create more good jobs, and we are equipping Canadians with the skills and opportunities they need to succeed in tomorrow's economy."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
- The Tables have offered six ambitious "signature initiatives" that are viewed by industry as key to success. Each signature initiative also estimates the economic advantage from implementing each recommendation in full (see Backgrounder).
- Each Table was headed by a Chair who presided over a diverse group of approximately 15 industry experts from the six high-growth sectors.
- McKinsey & Company provided fact-based research and analysis to support the development of the Economic Strategy Tables' signature recommendations.
- Together, the Tables held 67 engagement sessions with Canadians to develop their reports and recommendations.
These are the six signature initiatives recommended by the Economic Strategy Tables:
1. Own the podium
Adopting a new mindset of rallying behind high-growth firms to build business winners and create global leaders in each of our six sectors
2. Agile regulations
Implementing an outcome-based approach to regulations that stimulates innovation and supports new collaborative relationships between industry and regulators
3. Skills and talent
Positioning Canadians for jobs of the future and leading in the global competition for talent
4. Technology adoption
Driving technology adoption through centres where innovators, purchasers and regulators get practical experience so they can leapfrog global competition
5. Infrastructure (digital and physical)
Providing universal Internet access to all Canadians and physical infrastructure that helps our goods get to export markets
6. Canada Brand
Refreshing Canada's economic brand to tell the world what our innovative economy has to offer
Follow Innovation, Science and Economic Development Canada on Twitter: @ISED_CA
SOURCE Innovation, Science and Economic Development Canada
For further information: Nilani Logeswaran, A/Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 613-668-1794; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]
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