Canada is a 'safe harbour' for global finance, Carney says

Prime Minister Mark Carney has pitched Canada as a "safe harbour" for some of the world's largest investors to spend their money in an era of geopolitical and economic uncertainty.

The country is "perfectly situated to build in the new global economic order", he told more than 100 global investors and sovereign wealth fund representatives gathered in Toronto for a major investment summit.

The group represent more than C$120tn ($86tn; £64tn) of assets. Carney's ambition is that they will invest in sectors like defence, energy, mining, AI and infrastructure.

Ottawa hopes they can be sold on more than 160 projects, from data centres to pipelines, and help Canada weather its trade war with the US.

Canada's dispute with its largest trade partner has prompted Carney to look to expand economic partnerships with Europe, Asia and the Middle East as he seeks to reduce his country's reliance on its neighbour to the south.

"Our goal is simple: to make Canada the most attractive place in the G7 to invest," Carney said on Tuesday morning.

As part of that move, Carney announced plans to privatise operations for four of the country's largest airports, saying it would raise billions of dollars that could be reinvested in transport infrastructure.

Many of the business leaders attending the event in Toronto received a personal invitation from the prime minister, who worked in the top tiers of global finance and was a central banker before turning to politics.