As the Canada Investment Summit got underway in Toronto on Monday, a coalition of advocates representing workers and civil society gathered outside city hall to voice strong opposition to foreign investment. Organized by Prime Minister Mark Carney, the September 14-15 summit aims to pitch Canada as a secure destination for capital during economic uncertainty, targeting over 100 global investors to lock down $1 trillion across 167 projects over the next five years. Critics, however, argue that everyday citizens will not see the benefits and warn that public resources are being auctioned off. Rachel Small, an organizer with World Beyond War, stated that Canadians are currently struggling with high rent and living costs, requiring funding for education, transit, and health care instead. She accused Carney of selling public resources without guaranteed returns and promoting industries that drive conflict and climate catastrophe. Operating under the banner “The Many vs. The Money,” speakers also raised concerns regarding national sovereignty and environmental impacts. Wet’suwet’en Nation Hereditary Chief Na’Moks warned that survival resources are being sold off to foreign entities. Nik Barry-Shaw, a campaigner for the Council of Canadians, questioned the inclusivity of the event, referencing Carney’s previous Davos remarks about being at the table or on the menu. Meanwhile, government and industry figures defended the event. Ontario Premier Doug Ford welcomed the summit, highlighting 15 major provincial projects spanning mining, energy, and artificial intelligence. Jeff Mahon, director for geopolitical and international business at StrategyCorp, noted that foreign investment is vital for economic growth, especially as trade pressures from the United States undermine market confidence. Canada’s Investment Canada Act remains a safeguard to review deals for net economic benefits and job creation.
Source: cbc.ca
