Carney announces new summit in Toronto aimed at attracting $1 trillion in investment

The goal of the summit is to help businesses expand, unlock job opportunities and build a stronger economy, said the release.

Finance Minister François Philippe Champagne said during a media conference in Washington, D.C., that Canada is well positioned to attract international investment, especially in the energy sector, given the supply uncertainty caused by the war in Iran.

“Investors are looking for places to invest which offer that stability, predictability, and the rule of law. That kind of message is resonating very loud and clear today,” Champagne said.

“Investors are rediscovering Canada, in a way. They see us now as an energy superpower. The conflict in the Middle East just highlights how much we need to diversify the source of energy.”

Tanker traffic has been severely limited in the Strait of Hormuz since the end of February, when the U.S. and Israel launched joint strikes on Iran, and Iran in turn blocked most shipments through the body of water which connects the Persian Gulf to the Gulf of Oman. About one-fifth of the world’s current oil transits through the strait, and its closure has wreaked havoc on fuel supplies, particularly in Europe and Asia.

Iran’s foreign minister and U.S. President Donald Trump both said Friday the strait would be reopened completely during the ceasefire between Lebanon and Israel. Trump also said the U.S. would continue to blockade Iranian ports.

Champagne is wrapping a trip to Washington for meetings with G7 and G20 finance ministers and the International Monetary Fund.

The price of oil has exploded due to the supply disruption triggered by the war, but shipments of other commodities have been blocked as well. Champagne said this crisis shows how Canada can be a reliable supplier of fertilizer and helium.

The summit comes after a decade of declining international investment in Canada.

A recent RBC report said Canada pulled in more than $100 billion in foreign direct investment last year for the first time since 2015.

More than $1 trillion in foreign investment exited the Canadian economy between 2015 and 2024. The report described it as the “largest capital exodus in Canadian history.”

RBC projects Canada could attract upwards of $1.8 trillion over the next decade if advances are made through the construction of new pipelines and liquefied natural gas terminals, the expansion of nuclear, hydro and renewable power, and development of critical minerals.

The Canadian Federation of Independent Business issued a report this week describing a struggling small business sector in Canada. The CFIB says this is the sixth consecutive quarter to see a net loss of small businesses.

The Prime Minister’s Office says the summit will be held on Sept. 14 and 15 in partnership with the Canada Pension Plan Investment Board and the Public Sector Pension Investment Board.

The announcement comes as Canada faces ongoing economic disruptions due to the Iran war and U.S. tariffs.

This report by The Canadian Press was first published April 17, 2026.

— With files from Katheryn Mannie in Toronto.

David Baxter, The Canadian Press

by The Canadian Press

Carney announces new summit in Toronto aimed at attracting $1 trillion in investment

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