THE BEST PLACE IN THE WORLD TO DO BUSINESS:
“Canada is better placed than many countries to weather the global financial turbulence and worldwide recession. Its resilience can be attributed to three factors: First, a track record of sound macroeconomic policy management has left the country in prime form at the beginning of the global turmoil. Second, the authorities responded proactively to the crisis. Third the focus is on financial stability”
Charles Kramer, Division Chief Western Hemisphere Department, International Monetary Fund.
Signing the North American Free Trade Agreement (NAFTA) between Canada, the USA and Mexico made Canada a member of the world’s largest trading bloc. The vigour and diversification of the Canadian economy has made the country one of the world’s richest.
Canada has always favoured trade. Immigrant businessmen who wish to develop their skills and talents will find innumerable business opportunities. In addition there are numerous government programs that offer specialist services and financial assistance to business men and women. Canada has a large, qualified and educated labour force.
A net exporter of energy, Canada possesses abundant sources of energy and natural resources, and has modern communications and transport networks. It has the world’s second largest oil reserves after Saudi Arabia. It is the world’s largest producer of zinc and uranium as well as being an important source of many other minerals, such as gold, nickel, aluminium and lead. Canada is a major producer of wheat, rapeseed and other cereals.
Thanks to prudent management of the public finances, Canada has emerged from the global financial crisis in better shape than many other countries. The World Economic Forum estimates that Canada has the strongest banking system in the world and ratings agency Moody’s rates it first in the world in terms of financial stability.
In the mid 1990s, Canada’s total net debt with respect to GDP was the second highest in the G7. Today it is the lowest.
Canada has the highest rate of GDP growth of all the G7 countries, low interest and inflation rates as well as a strong currency, all factors which make it an extraordinary destination for immigrant investors and this trend should continue into the future.
Canada also has a large manufacturing sector, concentrated in southern Ontario and Quebec, with the auto and aeronautical industries being the most important.
CANADA IS ALSO:
- The world’s fifth largest aircraft maker.
- The fourth largest exporter of farm products.
- The third largest exporter of automotive products after Japan and the USA.
- A leader in biotechnology, one of the five principal players in the world in this sector.
- The country where nine out of the world’s ten largest chemical companies have production facilities.
- The leader of the G-8 in terms of healthcare research patent applications and the fourth internationally.