Investors eye Canada’s White North
A delegation of government and industry professionals from Canada’s Northwest Territories (NWT) visited China this week to promote the untapped abundant natural resources and tourism.
The delegation was led by Premier Bob McLeod, and accompanied by Minister David Ramsay, the Department of Industry, Tourism and Investment, and a number of officials and businesses in the wild fur, mining, and tourism sectors.
Organized by the Canada China Business Council (CCBC), the delegation met representatives from the Chinese mining and tourism industries and attended a fur clothing exhibition in Beijing. After the visit in China, the delegation was scheduled to fly to Tokyo to strengthen ties with Japan, especially in tourism.
“We are here to strengthen our Territory’s ties with China and to identify ways that help us all to grow our shared businesses and investment interests,” said McLeod on Tuesday in Beijing.
“We see a future in combining China’s import needs with our supply, integrating China’s increasing foreign investment capital with our capital infrastructures requirements, and harnessing emerging transportation opportunities—from Arctic shipping to Liquefied Natural Gas terminals,” said McLeod, on his fifth visit to China.
“For the Northwest Territories, our relationship with China is still in its early stages, yet we know that this relationship holds tremendous potential,” said McLeod. “We have much to offer that I believe may be of interest to your businesses. We have highly desirable diamond and luxury wild fur. We have untapped mineral and energy resources. And we have a growing tourism industry. We have the products and now need to build partnerships to help bring them to the world.”
Chinese industrial representatives who attended the luncheon on Tuesday showed their interests and also concerns about investment in the area.
“I think Chinese investors must know clearly about the local policies and investment environment such as employment cost and tax,” said Kang Guoqing, vice president of CAMCE Holding Inc. , a Chinese mining construction company based in Canada.
“Compared to Australia, also China’s major mining investment and trade partner, Canada needs to try harder to lure Chinese investors and give them confidence to invest,” said Ding Yanping, managing director of CMI Resources Co Ltd, a mining consultant company based in Beijing.