May 19, 2024

The Queens County Citizen

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Foreign investment | Montreal continues its charm despite the epidemic

Foreign investment |  Montreal continues its charm despite the epidemic

Despite a year complicated by border closures and the epidemic, foreign investment in the metropolis reached $ 2.2 billion in 2020, leading to the creation of more than 8,000 jobs, according to Montreal International.

Antoine TrussartAntoine Trussart

Despite the epidemic, “Greater Montreal has been able to maintain its economic appeal in the international arena,” Board of Montreal International (MI) Chairman Jean-Lorraine welcomed at a news conference Monday afternoon.

When its results were unveiled, the company announced that it was supporting 90 projects, representing an investment of $ 2.2 billion compared to the previous year, which is down 15% compared to 2019.

Stephen Pocket, CEO of MI, believes that this is a “great performance” compared to the expectations of the United Nations Conference on Trade and Development, which estimates that foreign investment will fall by 35% by 2020. In a press release from MI.

Montreal International is set to grow globally by the year 2021. The Conference Board of Canada, based on Think Tank statistics, has projected MI GDP growth of 5.43%, the highest number among Canadian major cities.

Stephen Pocket commented at a press conference on Monday that “there are 150 files that we can very actively qualify for” in the projects pipeline. “There is still a lot of uncertainty, but we have confidence,” he added.

The company estimates that the 90 projects supported in 2020 will lead to the creation of more than 8,000 jobs with an average salary of 84 84,000.

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Montreal International has also chaired the Montreal Center for International Experts for the Advancement of Artificial Intelligence (SEMIA), which, along with the Governments of Quebec and Canada, has established that “the fundamental principles of ethics must work for the responsible development of AI, human rights, and inclusion.” Innovation and economic growth, ”MI said in a statement.

Travel restrictions have further affected MI’s overseas recruitment missions, as its efforts have fallen by 31% since 2019 to employ 772 skilled workers, including 237 nurses and 189 teachers.

To compensate for the impossibility of meeting in person, Montreal International has also set up the Talent‌ website, which aims to inform eligible workers who wish to settle in the metropolitan area.

Montreal International has a responsibility to promote Greater Montreal to foreign companies and investors, international organizations, skilled workers and international students. It is funded by the private sector as well as three levels of government.

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