Invest in Canada came into force March 12, 2018 with the goal of enhancing Canada’s capacity to compete on the international stage and increase its share of foreign direct investment. Working seamlessly with federal, provincial, territorial and municipal governments, Invest in Canada aims to make investing in Canada simpler and more attractive.
Invest in Canada is a departmental corporation listed in Schedule II and Schedule V of the Financial Administration Act, and reports to Parliament through the Minister of International Trade. A Board of Directors, accountable to Parliament through the Minister of International Trade, is responsible for supervising and overseeing the management of the business affairs of the corporation, and advising the Minister on matters related to the mandate.
Mandate and Role
As outlined in the Invest in Canada Act, for the purpose of supporting economic prosperity and stimulating innovation in Canada, Invest in Canada’s mandate is to:
- promote foreign direct investment in Canada and attract and facilitate that investment; and
- coordinate the efforts of the government, the private sector and other stakeholders with respect to foreign direct investment in Canada.
Invest in Canada will position Canada as a top destination for global investment and promote its economic brand through various initiatives, including participating in and producing signature events.
In carrying out its mandate, key functions of Invest in Canada are to:
- develop and implement a national strategy to attract foreign direct investment to Canada;
- create and maintain partnerships with any department, board or agency of any government in Canada, the private sector in Canada or any other Canadian stakeholder with an interest in foreign direct investment in order to optimize the benefits of any programs, resources and services that are offered with respect to foreign direct investment;
- plan, direct, manage and implement activities, events, conferences and programs to promote Canada as an investment destination;
- collect, prepare and disseminate information to support the decisions of foreign investors with respect to foreign direct investment in Canada; and
- provide services in a coordinated manner to foreign investors with respect to their actual or potential investments in Canada.
The Invest in Canada mandate supports the Government of Canada’s objective of fostering prosperity for Canadians, contributing directly to one of the twelve key priorities of the Government of Canada – increased and diversified international trade and foreign investments. In supporting the Government’s growth and innovation agendas as articulated in the Budget 2016, it also contributes to higher living standards and the pursuit of social objectives, transforming the Canadian economy and growing the middle class.
For more information on Invest in Canada’s mandate letter commitments, see the Minister of International Trade’s mandate letter.