- More than $100 trillion in assets were represented at Canada’s first Investment Summit.
- Canada says nearly $500 billion in new investment commitments emerged from the two-day event.
- The pitch includes airport concessions, tax incentives, AI, energy, defense and critical minerals.
Canada has put out a very large shop window for global investors.
At the first Canada Investment Summit in Toronto, investors from nearly 30 countries representing more than $100tn (£74tn) in assets gathered as Prime Minister Mark Carney's government tried to turn Canada's natural resources, infrastructure and technology ambitions into fresh investment.
The government says the summit resulted in nearly $500bn in new investment commitments, while its broader ambition is to catalyze $1tn of investment. More than 160 projects are being presented to investors across sectors including energy, mining, technology and infrastructure.
So, what exactly is Canada putting on the table?
1. A $1tn investment target
Carney's government wants to catalyze $1tn of new investment in Canada, with the summit designed to connect international investors with Canadian businesses and major projects.
The immediate numbers are already substantial. Canada's pension funds, insurers and institutional investors committed nearly $100bn in new capital, while the country's major banks pledged nearly $325bn in new financing for businesses and infrastructure.
Investment funds also committed to mobilize more than $14bn, including $4bn from Radical Ventures for a new fund targeting Canadian AI companies.
2. Four major airports
One of the more eye-catching proposals involves Canada's four largest airports — Toronto, Montreal, Vancouver and Calgary.
The government plans to invite private investment through long-term concessions to operate them, while retaining ownership of the underlying land and assets.
The money raised would be reinvested into other infrastructure, including regional airports, local transportation and a national broadband network. Canadian authorities say the model is intended to bring in private capital and expertise without selling the underlying public assets.
The proposal has also attracted criticism from labor groups, which have raised concerns that private investment could eventually push up costs for passengers.
3. A much bigger tax break for new investment
Canada is also changing the math for companies considering where to put their money.
Carney announced the Productivity Mega Deduction, which allows businesses to immediately deduct the cost of a much wider range of investments, including machinery, software, research and development, pipelines, aircraft, vehicles, rail and other infrastructure.
The government says the measure will reduce Canada's marginal effective tax rate on new investment from roughly 13 per cent to 6.4 per cent. It also makes immediate expensing permanent.
4. Energy and critical minerals
Canada is presenting its natural resources as another major investment opportunity.
The pitch includes LNG, oil pipelines, nuclear power, electricity infrastructure and critical minerals such as copper and palladium.
Carney has also pointed to a potential pipeline carrying at least one million barrels of Alberta oil a day to Asian markets, alongside plans to expand LNG exports and electricity infrastructure.
The government says 27 nation-building projects already referred to its Major Projects Office represent around $500bn in potential private investment.
5. A growing AI and technology market
Artificial intelligence is another major part of the pitch.
Bell Canada and the government of Saskatchewan announced plans for a 1.2-gigawatt AI infrastructure hub in Saskatchewan, involving a reported $52.5bn investment and expected to create more than 4,500 jobs.
Radical Ventures is also committing $4bn to an AI-focused fund aimed at helping Canadian companies scale.
The wider pitch includes data centers, digital infrastructure, fiber networks, cybersecurity and advanced technologies.
6. Defense is becoming an investment opportunity
Canada is also putting defense and dual-use technology firmly on the investment agenda.
Carney said his government is pursuing the biggest increase in defense spending since the second world war and wants that spending to support industries including aerospace, shipbuilding, AI, cyber, quantum technology, robotics and autonomous systems.
The Business Development Bank of Canada is deploying $700m in new funding for defense and dual-use technologies, as part of a wider $6bn defense platform.
That creates a potentially significant pool of government-backed demand for companies working across Canada's defense and technology supply chains.
7. Faster approvals and a wider global network
The final part of the pitch is less about a particular asset and more about making it easier to build one.
Carney has promised a new approach to major projects based on the formula: “One project. One review. One year.”
The government says the aim is to reduce delays while maintaining environmental and other regulatory standards.
At the same time, Canada is trying to diversify its economic relationships beyond the US. Carney's government wants to expand trade with Europe, Asia and the Middle East, with a stated aim of doubling non-US trade within a decade.
The strategy has not gone without opposition. Hundreds of protesters gathered in Toronto during the summit, with labor, environmental, migrant rights and social justice groups criticizing aspects of the government's approach, including fossil fuel projects, military production, tax incentives and the proposed private role in public assets.
For Carney, however, the message to investors is straightforward: Canada wants more capital, more infrastructure and more projects — and is changing tax rules, approvals and public-private investment models to make that happen.
