Volkswacht Bodensee - Canada makes pitch as safe place to invest in 'uncertain world'

Prime Minister Mark Carney has pitched this week's Canada Investment Summit as an opportunity to sell the world's top CEOs and business leaders on investing in Canada, a mineral and energy-rich country looking to reduce its dependence on the United States.

A list of attendees has not been made public, but Champagne told AFP the people in the room control more than C$120 trillion (US$86 trillion) in global capital.

"It is the largest investment summit in, certainly, Canadian history," Champagne said.

In recent years, Canada has faced criticism from private-sector leaders who say the country is a difficult place to invest, citing lengthy and bureaucratic project approval processes.

But Champagne is convinced that those problems are now in the past and officials in his government "understand now that speed and skill are what's needed to seize this golden opportunity."

"The world has changed," he said.

He also said global economic "megatrends," including growing demand for reliable supplies of critical minerals and energy, were playing to Canada's strengths.

"We have the critical minerals to power the growth, and I would say a lot of people see critical minerals as the fuel of the 21st century," he told AFP, adding that Canada also has "an abundance of energy."

Canada is locked in a bitter trade war with the United States, with President Donald Trump expected to impose further tariffs this month.

Asked whether Canada would try to sell itself as a hedge against an increasingly volatile and protectionist United States, the finance minister said: "I don't compare with others."

"Capital will go where it finds the opportunities."

But, he added, "I would say the most sought-after commodity today is trust."

"Canada is more and more seen as a trusted partner in a very uncertain world."

H.Kuenzler--VB