Page 201 - Caribbean-Central America Profile 2018

CANADA

CARIBBEAN-CENTRAL AMERICA PROFILE 2018

Official Name: Canada
National Capital: Ottawa
Nationality: Canadian(s)
Official Language: English and French
Population Total (millions): 36.29 (2016 est.)
Size: 3,511,022 square miles
CANADA Currency: Canadian Dollar
Internet Domain : .ca

COUNTRY OVERVIEW INVESTMENT INCENTIVES
q Canada is a country occupying most The Canadian economy is well diversified and fast becoming knowledge-based. The reasons for
of northern North America, extending Canada’s economic success:
from the Atlantic Ocean in the east • A highly-educated population.
to the Pacific Ocean in the west and • A wealth of natural resources.
northward into the Arctic Ocean. • The strength of its manufacturing and construction industries.
q Canada shares a common border with • The health of the financial and service sectors.
the United States of America that • The ability to span distances using communications and transportation technologies.
stretches across 8,893 km. • A dynamic trade relationship with other nations, especially the USA.
• The ability to compete in a global marketplace.
q Average winter and summer high
temperatures across Canada vary PEOPLE ADVANTAGE
depending on the location. Canada is a nation of intelligent, educated workers, ranking #1 in the OECD in higher education
q The Capital is Ottawa. achievement. Canada is rich in talented human resources. Canada spends more money on education,
as a percentage of GDP, than any other country in the world and is rewarded with the most highly-
Growth, innovation and risk management educated population on the planet. Canada also attracts the best and brightest from every corner of
are what Canada offers to investors looking the globe. Business-friendly immigration policies enable highly qualified newcomers to contribute
for their next investment destination. their skills and talents to Canada and ensure a consistent supply of new knowledge workers.
Canada boasts of multiple advantages and Immigrants currently make up more than 70% of all Canadian labour force growth and will account
unparalleled potential — a place where for 100% within the decade.
businesses can achieve excellence on
a global scale. A transparent and stable BUSINESS ENVIRONMENT ADVANTAGE
business climate makes Canada one of Canada has invested billions of dollars over the last decade to create a robust research and
the world’s most attractive investment development (R&D) climate that is second to none. Universities R&D in Canada are almost twice
destinations. Openness to global trade and that of any other G7 country. Universities are on track to double their R&D activities and triple
commerce is firmly institutionalized. their commercialization successes. Twenty-One Networks of Excellence and fifty-two community
research alliances foster collaboration. The Canadian Foundation for Innovation funds technology
Canada’s economic growth was projected clusters across the country in domains ranging from pharmaceuticals to fuel cells to information and
to increase in 2017, driven by expansionary communications technologies (ICT).
fiscal policy, household wealth gains and
a resumption in business investment, in ECONOMIC ADVANTAGE
particular in the resource sector following Canada’s prudent fiscal policy, low inflation, interest and unemployment rates, and a corporate tax
the rebound in commodity prices. In 2018, framework are among the best in the world. Canada’s status as an emerging energy superpower,
growth is likely to ease but remain robust, along with the country’s strategic investments in technology, education and healthcare, creates
as government spending increases taper the ideal conditions for businesses to grow and prosper. Canada is one of the world’s wealthiest
off. nations and one of the world’s top ten trading nations. Canada’s economy is one of the worlds most
advanced and dynamic.

TAX ADVANTAGE
Canada offers businesses low tax rates. Canada has the lowest payroll taxes among the G7 countries.
In Canada, there are several taxes, tariffs, and duties. The Canada Revenue Agency (CRA) is
the federal government department responsible for administering tax laws for the Government of
Canada and for most provinces and territories.

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