Intergovernmental agency needed to attract global corporate investment: Report

OTTAWA, May 20, 2015 /CNW/ - Canadian subsidiaries of multinational corporations are struggling to compete for capital investment from their parent companies. A new report from the Public Policy Forum, Winning Global Mandates: Lessons from Canadian Leaders, recommends that an independent, intergovernmental agency could help subsidiaries convince their global headquarters to invest in Canada.

"Our investment environment can be challenging, but there are opportunities for Canadian leaders to work together more effectively," says David Mitchell, President & CEO of the Public Policy Forum. "We've now advanced the policy dialogue on more proactive measures that can help lead Canada to a more competitive future."

A Canadian model already exists with Investissement Québec, a one-stop shop where subsidiaries can access government programs and decision-makers in the province. The intergovernmental model has also been used with great effect by Mexico, where the auto-manufacturing sector is growing exponentially. The report suggests that these models be closely studied and replicated by Canadian government leaders, particularly at the federal level.

"Such an agency could help simplify investment requirements and connect subsidiaries with partners across Canada," says Mitchell.

The report synthesizes the findings from pan-Canadian policy dialogues convened by the Public Policy Forum that brought together leaders from all sectors. This culminated in a series of recommendations featured in the report. The project is supported by Sanofi Pasteur Limited, Export Development Canada, Industry Canada, Mitacs, United Technologies and the Governments of Alberta and Ontario.

The Public Policy Forum is an independent, not-for-profit organization dedicated to improving the quality of government in Canada through enhanced dialogue among the public, private, academic and nonprofit sectors.

SOURCE PUBLIC POLICY FORUM

Media: Sara Caverley, Communications Coordinator, Public Policy Forum, [phone] ext. 228, [email protected], ppforum.ca