World Economic Forum an opportunity to attract global investments, promote shared prosperity
DAVOS, Switzerland, Jan. 21, 2017 /CNW/ - Canada has a highly skilled workforce, world-leading expertise in emerging technologies that will shape the economy of the future, and companies that are ready to compete in a globally competitive marketplace. These strengths, supported by the Government of Canada's plan to promote shared prosperity by strengthening the middle class, make Canada an ideal destination for global investments.
That was the message that the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, delivered at the 2017 World Economic Forum, an annual gathering of top leaders from the world of business, politics, media and civil society.
While in Switzerland, Minister Bains also participated in two investment announcements that will secure and create jobs, while driving innovation in Canada:
- A $90-million investment by ABB, a Swiss-based supplier of industrial equipment. The investment will support the establishment of a new North American Centre for Excellence in e-Mobility, which will maintain 700 jobs and serve as the company's Canadian headquarters in Montréal.
- Microsoft Corporation's acquisition of Maluuba, a deep-learning and artificial-intelligence technology start-up based in Waterloo, Ontario, and Montréal, Quebec. Maluuba houses one of the world's most impressive deep-learning research labs for natural-language understanding.
As part of the Canadian delegation, Minister Bains promoted the Government's Innovation Agenda, a plan to drive economic growth and create better jobs and opportunities for all Canadians.
Minister Bains also met with international leaders from business, academia and civil society. He encouraged them to make Canada their destination of choice for global investments. He emphasized Canada's strengths, which include a favourable business climate with low corporate taxes and government policies designed to enhance the country's innovation potential.
"The world is looking to Canada, which is a country of diverse, open and outward-looking people. We are home to many creative and entrepreneurial people who apply their talents to developing innovative technologies that will shape the future of the global economy. We have some of the fastest-growing companies in the world. And we are a country that is working to strengthen the middle class. That's why companies such as ABB and Microsoft select Canada as a place to invest. These investments are a clear vote of confidence in the talent and expertise of highly skilled Canadians, who are developing the next-generation technologies that will equip them for the jobs of the future."
– The Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development
- Through the Invest in Canada hub, the Government of Canada is investing $218 million over the next five years to attract global investment.
- Canada's Global Skills Strategy will make it easier and faster to bring people with in-demand skills and work experience to Canada.
Follow Minister Bains on Twitter: @MinisterISED
SOURCE Innovation, Science and Economic Development Canada
For further information: Philip Proulx, Press Secretary, Office of the Minister of Innovation, Science and Economic Development, 343-291-2500; Media Relations, Innovation, Science and Economic Development Canada, 343-291-1777, [email protected]