Canada News

Toronto: Parliamentary Secretary Alghabra announces investments

27 May 2019 at 17:29 | 966 views

Parliamentary Secretary Alghabra announces investments to help communities attract international investments and create well-paying middle class jobs in Toronto
May 27, 2019 - Ottawa, Ontario - Global Affairs Canada

Provincial and municipal economic development organizations and local businesses play a key role in attracting foreign direct investment, strengthening Canada’s economy and creating jobs. Small and medium-sized enterprises also benefit from opening new international markets and expanding existing ones, providing access to new customers and creating new jobs.

Today, Omar Alghabra (photo), Parliamentary Secretary to the Minister International Trade Diversification, was in the Toronto Region to highlight the $100 million investment in the CanExport funding programs. CanExport helps Canadian communities attract, retain, and expand foreign investments, while also supporting local entrepreneurs looking to develop and access new export opportunities.

Parliamentary Secretary Alghabra met with Toronto Global, an investment promotion agency for 24 municipalities in the Toronto Region, which has received CanExport – Community Investments funding in support of its goal to attract job-creating foreign companies. Companies invest not just in countries, but in projects and in communities as well, so coordinating with partners like Toronto Global is essential to Canada’s shared success in attracting foreign direct investment. Since its launch in 2017, Toronto Global has received $1 million in CanExport – Community Investments funding.

The CanExport expansion is a key component of New Markets, New Customers, New Jobs: Canada’s Trade Diversification Strategy, an investment of $1.1 billion over six years to help Canadian companies and communities succeed. This effort capitalizes on Canada’s new agreements with more than fifty countries, which provide Canadian businesses with preferential access to 1.5 billion customers. With these investments, the government continues to make Canada the most well-connected trading economy worldwide, while creating more jobs at home.