Minister Morneau Promotes Canada to Japan as a Good Place to Invest

News release

October 9, 2018 – Tokyo, Japan – Department of Finance Canada

Canada's economic success rests on the hard work of Canadians, on strong trade relationships, and on foreign direct investment. Investments from around the world help to create good, well-paying jobs and long-term growth that benefits everyone.

Finance Minister Bill Morneau was in Tokyo today, where he met with Japanese business leaders as part of an Invest in Canada initiative to deepen partnerships and promote Canada as a top destination for foreign investment. In his meetings, he highlighted the close ties between Canada and Japan, pointing out their partnerships in international groups and organizations, as well as their shared commitment to ensuring economic growth, cooperative political relations and continued development in the Asia-Pacific region.

Working seamlessly with federal, provincial, territorial and municipal partners, Invest in Canada provides one-stop investment facilitation and aftercare services to make it easier to build innovative and global businesses in Canada.

Quotes

"Canada and Japan enjoy deep political, economic and cultural ties, bolstered by common values and strong people-to-people bonds. These factors, combined with the fact that Canada has one of the best business environments among developed economies, make Canada one of the best places in the world to start, grow, and invest in a business. It was a pleasure to meet with Japanese leaders to discuss our shared priorities and interests."

Bill Morneau, Minister of Finance

Quick facts

  • Canada is a first-class investment destination with one of the best business environments among developed economies:

    It has the most educated workforce among the Organisation for Economic Co-operation and Development countries;

    It offers one of the lowest statutory corporate income tax rates in the G7, as well as the fewest number of days required to start a business; and

    It is the only G7 country to have secured trade agreements with every other G7 jurisdiction, including Japan through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

  • On March 12, 2018, the Government of Canada launched Invest in Canada, a new federal body that brings together all levels of government to position Canada as a premier investment destination and provide seamless service to help global investors navigate Canada's investment landscape. Foreign direct investment is a critical component of Canada's economy, spurring innovation, improving productivity and easing access to international markets.

  • With a gross domestic product of $6.3 trillion in 2017, Japan is the world's third-largest national economy, one of Canada's most important economic and commercial partners, and Canada's largest source of bilateral foreign direct investment in Asia.

  • Canadian investment in Japan is significant and diverse. More than 100 companies have a permanent Japanese presence, primarily in the automotive, information and communications technologies, financial services, and forestry sectors.

  • Canada and Japan enjoy rich cultural and people-to-people linkages. Over 120,000 people of Japanese origin live in Canada. Approximately 300,000 Japanese and Canadians travel to each other's country annually. There are 24 friendship associations and 73 sister city/sister province relationships between Japanese and Canadian communities.

Contacts

Media may contact:

Pierre-Olivier Herbert 
Press Secretary 
Office of the Minister of Finance
pierre-olivier.herbert@canada.ca 
613-369-5696

Media Relations
Department of Finance Canada
fin.media-media.fin@canada.ca
613-369-4000

General Enquiries

Phone: 613-369-3710
Facsimile: 613-369-4065
TTY: 613-369-3230
E-mail: fin.financepublic-financepublique.fin@canada.ca

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