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Release: Strengthening Asian Investment in British Columbia
As posted on the Western Economic Diversification website
Strengthening Asian Investment in British Columbia
Governments of Canada and British Columbia partner with the Business Council of British Columbia to Strengthen Business Ties with Asia
February 13, 2015 – Vancouver, British Columbia – Western Economic Diversification Canada
Today, the Honourable James Moore, Minister of Industry and Minister Responsible for British Columbia, joined by the Honourable Michelle Rempel, Minister of State for Western Economic Diversification, the Honourable Teresa Wat, B.C. Minister of International Trade, as well as the Business Council of British Columbia (BCBC) announced a new project to attract Asian head offices to Vancouver. This project, entitled HQ Vancouver, will build on Canada’s competitive advantages in key sectors and attract major Asian firms to set up their North American head offices in British Columbia.
HQ Vancouver is an investment between the Government of Canada, through Western Economic Diversification Canada (WD), the Province of British Columbia, through the Ministry of International Trade, and the Business Council of British Columbia. HQ Vancouver will also be supported by business leaders with influence in key Asian markets to successfully engage decision makers, identify head office leads, develop and execute investment strategies for each account, and coordinate with other stakeholders to leverage ongoing activities.
Over the next three years, WD is providing funding of $1,951,750 and the Ministry of International Trade is providing both funding and in-kind support valued at $3,385,250. The BCBC is providing funding and in-kind support valued at $1,221,000 to deliver this initiative, which will strengthen trade and investment relationships in B.C. and increase investment from Asia.
- HQ Vancouver specifically focuses on expansion opportunities for major Asian companies into North America, using Vancouver as their head office location. This targeted initiative is unprecedented and provides an unparalleled opportunity for increased trade and investment in Canada.
- The BCBC is an influential business organization in Western Canada, focused on creating a prosperous and sustainable economy through the creation of sound public policy and innovative economic development initiatives.
"Canada is a trading nation and British Columbia is uniquely positioned as Canada’s gateway to Asia. Our low taxes and open markets make Canada one of the most attractive countries in the world to do business. Today’s announcement is another step our Government is taking to strengthen investment from Asian markets, and to build a stronger Canadian economy. We are pleased to partner with the province of British Columbia and BCBC to strengthen trade and investment opportunities in Canada."- The Honourable James Moore, Minister of Industry and Minister Responsible for British Columbia
"HQ Vancouver is a big step towards strengthening our relationships with Asia’s growing markets. Head offices generate direct economic benefits, including high paying jobs, business growth and increased awareness that B.C. is a competitive jurisdiction to do business. By working with our partners in the federal government and BCBC, we can use our unique assets, knowledge and skills to strengthen B.C.’s brand as a safe and certain destination for investment."- The Honourable Teresa Wat, B.C. Minister of International Trade
"As a central location in the Pacific Rim, the Metro Vancouver region is strategically situated to act as a North American destination for international head offices looking to invest and operate their businesses across the continent. The BCBC is proud to lead the HQ Vancouver initiative with the support of the Federal and Provincial governments and our advisory council of internationally recognized business leaders."- Greg D'Avignon, President and Chief Executive Officer, BCBC
Office of the Minister
Western Economic Diversification
Province of British Columbia
Business Council of British Columbia
Vice President of Communications
WD Toll-Free Number: 1-888-338-WEST (9378)
Teletypewriter (TTY): 1-877-303-3388
Website: WD is online at www.wd-deo.gc.ca.
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