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9 November, 2020updated 30 Oct 2021 05:03

The state of play: FDI in Quebec

Quebec is Canada's second-largest province by population, and a major business hub in the country. It has displayed impressive FDI credentials in recent years, encouraging the likes of Ericsson to invest there.

By Lara Williams

Montreal-Quebec-FDI

The port in Montreal, Quebec, is being renovated in a move that it is hoped will create more than 30,000 jobs and attract substantial investment. (Photo by Eva Hambach/AFP via Getty Images)

Foreign direct investment (FDI) in the Canadian province of Quebec increased by 12% in 2019, with a total of 82 greenfield projects, according to fDi Intelligence’s 2020 fDi Report. This compares with a 5% rise in FDI projects across Canada, which increased from 328 projects in 2018 to 345 in 2019. By capital investment Quebec received $2.9bn of inward investment, which represented a 3% market share of all FDI into North America.

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Montreal is forecast to have the best economic growth in Canada for 2022 and investment is playing a large role in driving this. There is a multitude of reasons why investors are choosing Montreal. It is cheaper to run a business in a city that combines lower living costs with a better quality of life. Tech is a particularly booming sector, with Greater Montréal having the fifth-highest concentration of tech jobs among the largest metropolitan areas in Canada and the US. Facebook, Microsoft, and Google have all set or expanded operations in the city in recent years. To find out the multiple advantages Montreal has for investors and how Montreal International can help, download this document.
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Quebec has seen a rise in FDI over recent years, partly due to a concerted effort by government in conjunction with investment promotion agency (IPA) Invest Quebec.

Quebec’s maritime plan to capture FDI

The port of Quebec is the focus of a government initiative to implement a maritime strategy to create more than 30,000 jobs and encourage a targeted $6.8bn of investment by 2030. During the first five-year phase of the strategy, the government has pledged to invest up to $381m for maritime infrastructure improvements, which are expected to create 1,500 jobs during construction.

The province’s largest city, Montreal, placed second in fDi Intelligence’s ‘Tier 2 Cities of the Future 2020/21’ ranking, showing the strongest economic growth of all Canadian cities and a marked increase in FDI. In 2019, the IPA Montreal International provided services to 89 foreign companies in the region representing investments of $1.98bn, up 164% since 2015. In 2019, 7,000 new jobs were created in the Greater Montreal region as a result of FDI.

Montreal is increasingly seen as a centre for innovation, attracting companies including Swedish multinational telecoms firm Ericsson, which unveiled its new global artificial intelligence (AI) accelerator in the city in 2019, creating 30 jobs. Other recent investment announcements include one from Biodiversity Observation Network, a global research network, which has committed to relocating its headquarters from Leipzig in Germany to Montreal. The company cited the city’s research environment and AI expertise as reasons for the move.

Free Whitepaper
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Greater Montréal: Reasons to Invest

Montreal is forecast to have the best economic growth in Canada for 2022 and investment is playing a large role in driving this. There is a multitude of reasons why investors are choosing Montreal. It is cheaper to run a business in a city that combines lower living costs with a better quality of life. Tech is a particularly booming sector, with Greater Montréal having the fifth-highest concentration of tech jobs among the largest metropolitan areas in Canada and the US. Facebook, Microsoft, and Google have all set or expanded operations in the city in recent years. To find out the multiple advantages Montreal has for investors and how Montreal International can help, download this document.
by Montreal International
Enter your details here to receive your free Whitepaper.

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