A feature on
AreaDevelopment Online looks at how Canada has become the ideal country for North American investors.
Among other things, Canada is lauded for its high standard of living, its sound banking system, its motivated workforce and its "strategic investments in technology, education and healthcare."
"'Canada is better placed than many countries to weather the global financial turbulence and worldwide recession,' says Charles Kramer, division chief for the International Monetary Fund's Western Hemisphere Department. 'This resilience can be attributed to three factors: First, a track record of sound macroeconomic policy management left the country in prime form at the beginning of the global turmoil; second, a proactive response by government to the economic crisis; and third, a stable financial system.'"
"The Bank of Canada projects Canada's gross domestic product to grow by 2.9 percent in 2010, compared to a contraction of 2.5 percent last year. The Economist Intelligence Unit believes Canada's inflation rate of 2.1 percent will hold steady over the next five years, at a significantly lower figure than the 3.2 percent rate in the United States. Canada's total net debt-to-GDP ratio is also the lowest in the G7."
"This stability makes Canada a choice destination for companies planning to relocate or expand. According to Dun & Bradstreet's Global Risk Indicator, Canada is one of the world’s safest countries in which to invest. Because of Canada's top-ranked fiscal balance sheet and excellent long-term growth prospects, the country has been given a AAA international credit rating from Moody's Investors Services since 2002."
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AreaDevelopment Online