By Katie Curran, Interim CEO, Invest In Canada
From the March/April 2022 Issue
Supply chains are emerging as a defining business issue in the 2020s. Long a system that few outsiders know much about or concerned themselves with, supply chains are now top of mind for businesses, policy makers and customers alike. Canada is the perfect location for global companies who are seeking resilience and excellence in their supply chains.
Katie Curran, Interim CEO, Invest In Canada
Canada’s supply chain advantage may start with its geographic location next door to the world’s largest market. But Canada has much more to offer beyond proximity to the United States; the Canadian advantage is based on a range of factors prized by businesses looking to grow and expand their operations.
In an economic period that has faced significant disruption, Canadian principles of an open economy and stable democracy, with a strong commitment to the rule of law and fundamental freedoms form the basis for a positive “Canada brand.” Canada has one of the soundest banking systems in the world and offers unmatched free trade access to more than 50 countries that comprise more than two thirds of the world’s gross domestic product. Investing in Canada introduces companies to a wealthy domestic market, and opens access to every other G7 country and most of world’s largest economies in Europe, Asia and South America.
Canada’s greatest attribute is its exceptional talent. According to the OECD, Canada has the most-highly educated workforce in the world, as 60% of the population has completed post-secondary education. Diversity is a Canadian strength; more than 200 languages are spoken here and Canada takes in more than 400,000 newcomers a year, most of whom arrive with valuable labour force skills. Where specialized talent may be needed, Canada’s Global Skills Strategy can process workers in as little as two weeks.
Canada’s advanced economy means that supply chains and the infrastructure to support them already exist in numerous industries—resource extraction, agribusiness, manufacturing and information services to name just a few. Building on this foundation and utilizing the talent in the labour force, supply chains can be adapted or upscaled relatively quickly to utilize cutting-edge processes and technologies as business needs evolve.