Carney Woos Global Investors in Toronto to Counter U.S. Tariffs — SkimNews
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- Carney opened the Toronto investment summit on September 14, 2026, pitching more than 160 projects and a pledge to attract C$1 trillion ($721 billion) in investment over five years by cutting red tape and developing mining, energy, technology and infrastructure sectors.
- BlackRock's Larry Fink, Blackstone's Jon Gray, Temasek's Dilhan Pillay and APG Groep's Annette Mosman were among confirmed attendees, with the summit matching roughly 100 global investors with Canadian CEOs and local officials.
- Canada's investment prospectus includes 96 data centers in development — including equity offers in Xanadu's photonic quantum computer and an AI-focused hyperscale campus in New Brunswick — alongside the low-carbon Crawford Nickel Project and C$900 million in financing sought for a Calgary-Edmonton high-speed transportation pod.
- Quarterly foreign direct investment averaged around C$23 billion in 2024 and 2025, up from C$15 billion in 2022, but BMO Capital Markets' Doug Porter cautioned that greenfield investment in new factories and warehouses has not seen a major bump since Carney took office.
- Carney's foreign policy pivot has mended ties with India and China and welcomed Saudi investors, marking a departure from predecessor Justin Trudeau's focus on human rights, climate change and Indigenous issues.
- Canadian banks have pledged parallel capital: Royal Bank of Canada C$1.4 billion for tech, Bank of Montreal up to C$70 billion for critical sectors, CIBC C$2 billion for defence and Sun Life C$5 billion for infrastructure.
Why it matters: Canada's quarterly FDI average roughly doubled from C$15 billion in 2022 to C$23 billion in 2024-2025, yet greenfield investment has lagged, so this summit tests whether Carney can convert his personal Goldman Sachs-era network into tangible new factories and data centers — not just M&A deals — while U.S. tariffs keep biting.
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