Pierre Fitzgibbon remains confident in the province’s energy potential, believing Quebec still has the assets in its game to boost future renewable energy supply — by building new infrastructure and reducing domestic demand.
I think we can work with companies today and say to them: “Listen, we can provide you with green renewable energy, but Timing Different from you Timing“He explained.
Today, regardless of the source of energy, we have begun to disintegrate societies that are concerned with time. Other societies are more patient because they want to have the right energy. I think the customers we want in Quebec are tolerant of good energy.
We have a significant comparative advantage in Quebec that we will be able to maintain for years to comeGuaranteed by Pierre Fitzgibbon.
A sentiment shared by Hubert Bolduc, president of Investment Québec International. According to him, Quebec will now be
Targeted by surgery Foreign investment in the face of labor shortages and the imminent end of energy surpluses.
I think we are coming up on a curveMr. Bolduc was warned in an interview with The Canadian Press.
According to him, strategic fields like aeronautics, aerospace, life sciences, quantum computing and photonics are privileged.
You really have to search […] Companies missing out on ecosystems. I think that’s the signal we’re sending to teams for the next year or two: do less in terms of volume, but be more strategic in terms of project quality.
” Government should make choices and priorities. I think the companies that knocked on our door understood this very well. »
A lot of eyes abroad are indeed turning to Quebec thanks to the results presented by the Investment Quebec International on Friday.
In terms of attracting foreign investment for the year just ended, as on March 31, we have earned more than $6 billion in direct investment.Guy LeBlanc, president and CEO of Investment Quebec, is delighted.
Source of foreign investment in Quebec last year (22 countries)
- European 46%
- America 42%
- Asia 12%
Reported value of foreign investment in Quebec IQ2018-2019 more than three times last year.
Regarding export support, Investment Québec estimates that Quebec companies generated exports equivalent to $3.1 billion last fiscal year, compared to $1.95 billion the year before.
More than 59% of these sales were in the United States, 31% in Europe, Africa and Asia, and 10% in Canada.
” Investment Quebec has never been more successful in promoting Quebec internationally. »
Investment Québec International has managed more than 125 projects in the past year. Seventy-eight were reinvested from foreign companies already established in Quebec, while the other 45 were new firms. But despite Quebec’s piqued interest, competition remains strong. In fact, more than 40% of the investments received are in Québec in competition with other foreign or Canadian subsidiaries.
” In the field of drums, it’s amazing, the competition we have. »
The specter of recession still hangs
In addition to the end of a huge energy surplus, Quebec also has to deal with major labor problems and many signs of an impending economic slowdown.
We experience this headwind, agrees Guy LeBlanc. The investment makes Quebec’s mission even more important in terms of economic development, he said.
What we need to do is to be more with companies, to be more persistent in encouraging them to invest more, because with labor shortages, it is important to invest and go through automation of manufacturing and transformation processes.So that Quebec businesses can be competitive.