A 66-page pitchbook lists more than 160 projects, but just 11 are shovel-ready
The Canada Investment Summit opened in Toronto on September 14, co-hosted by the federal government with CPP Investments and the Public Sector Pension Investment Board.
A 66-page pitchbook obtained by CBC News lists more than 160 projects, 11 of them shovel-ready and about two dozen at an advanced stage, with the rest at concept or feasibility.
The Canada Revenue Agency will prioritize advance income tax ruling requests tied to investments of $1bn or more in Canada, Finance and National Revenue Minister François-Philippe Champagne announced the same day.
The measure took effect immediately.
Investors can obtain a binding decision on how Canadian income tax law will apply to a proposed transaction before they commit capital through the Advance Income Tax Rulings program, the federal government said in its announcement.
The 90-business-day service standard remains for requests that do not qualify for prioritized access, and 91 percent of rulings were issued within it in the fiscal year running April 1, 2024 to March 31, 2025.
PSP Investments will push total assets invested in Canada above $100bn, Orida said in reporting carried by the Financial Post.
The fund expects to increase its Canadian investments by 30 to 40 percent over the next few years as global conditions grow more uncertain and domestic opportunities open up.
Ontario Teachers' Pension Plan Board will put another $10bn into Canadian public and private markets by the end of 2027, adding to the one-third of its portfolio already held at home.
Chief executive Jo Taylor said in a statement reported by the Financial Post that the existing position gives the fund direct experience of Canada as an investment destination.
Sun Life Financial Inc. will deploy $5bn over five years into critical infrastructure including digital technology, energy, and transportation and logistics.
The prospectus lists infrastructure assets generally favoured by pension funds and other long-term investors, Reuters reported, including $900m sought for a proposed high-speed transportation pod between Calgary and Edmonton.
Major deals could take 12 to 18 months to materialize, a government source told Reuters.
Orida said in an interview the week before the summit that the real measure of its success will come in the weeks and months ahead.
Minerals and metals cover nearly 38 percent of the listed projects and almost 70 percent once energy and power infrastructure are added, Al Jazeera reported, citing calculations by Vina Nadjibulla, cofounder and chief executive of the Centre for Strategic Statecraft.
Investors will want a credible pipeline, faster permitting, policy stability, clearer revenue models, and coordination between provinces and Ottawa, Nadjibulla said.
Some of the projects on offer are "quite large and expensive," Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security, told Al Jazeera.
Ziemba said regulatory reviews requiring both federal and provincial approval have held things up, leaving some projects short of ready.
Canada has moved slowly on regulatory approvals, Carney said, pointing to a series of areas in his September 14 interview with Bloomberg.
Assembly of First Nations National Chief Cindy Woodhouse Nepinak wrote on social media that investors can avoid costly legal battles by speaking directly to chiefs and First Nations before proceeding, according to The Canadian Press.
Projects must include "First Nations being owners and suppliers at every step of the way," she wrote.
