Economic Development Winnipeg’s Post

https://lnkd.in/dejVvyrY South Africa has the potential to transform into an #export-oriented economy, according to the Deputy Minister of Trade, Industry and Competition, Mr. Andrew Whitfield. Addressing #Parliament during the department’s Budget Vote, Whitfield outlined a comprehensive strategy aimed at bolstering #local industries and enhancing South Africa’s global competitiveness. #7thAdministration #GNU

Exports play a crucial role in Florida's economy because: Reason # 5️⃣ Attracting Foreign Investment: A robust export sector can attract foreign investment to Florida. Foreign companies may establish operations in the state to be closer to their customers or to take advantage of its strategic location and business-friendly environment.

Hey circular economy friends and industry colleagues! An excellent opportunity to let #Canada know that #CircularEconomy is an excellent measure to advance Canada’s economic interests. Launch of public consultations on potential new measures to advance and defend Canada’s economic security interests ♻ 🌎 #Circular #EconomicDevelopment #SystemsChange #UrgentCE https://lnkd.in/gpxV_X29

🚢 In case you missed it! The launch of our #StateOfTrade report made headlines, showcasing the contribution of our sector to the Aussie economy and workforce. Australian ports are responsible for a staggering 99% of Australia’s international trade and ensure the flow of $650 billion worth of goods and commodities annually. ➡ Full findings here: https://lnkd.in/gjYssBNa The State of Trade report was launched at Parliament House by Minister for Trade and Tourism Don Farrell and Minister David Michael alongside Ports Australia CEO Mike Gallacher GAICD. #trade #workforce #economy #australia #auseconomy #news #ausnews

The draft of USAID’s new Economic Growth and Trade Policy is officially open for public comments! The Policy outlines how USAID will further its goals of advancing sustainable, resilient, and inclusive economic growth in partner countries following five programming principles: 1) Advance U.S. strategic priorities; 2) Partner strategically; 3) Prioritize resources for transformational change; 4) Measure and evaluate impact; and 5) Use a cross-sectoral approach. Read the draft Policy here and share your comments before 24 July 2024! #economicgrowth #trade @USAIDEconomic https://lnkd.in/eaFG8uZV

It’s Day 11! The Economic Investment and Policy Division is driving sustainable growth by creating policies and strategies that attract investments and strengthen Jamaica’s economy. Their work is all about fostering a resilient and thriving economic future. 🌍📈 #SeetheDifference #FeeltheDifference #ThisIsUs

📣 In case you missed it: The New Brunswick Business Council commissioned David Campbell of Jupia Consulting to perform an analysis of the province’s export and manufacturing sectors, its historical impact, and its declined position in today’s economy. The report was released yesterday and provides data points on the state of the provincial economy, as well as a number of key recommendations. Out of the recommendations, high importance needs to be placed on supporting existing industries in the short term: ➡ There needs to be government focus on creating an investment tax credit for companies that invest in automation and digitization. ➡ Ensuring accelerated path for employers is in place to recruit specialized workers from outside the country. ➡ The government needs to match the housing incentives that other Maritime Provinces are using to stimulate housing development. You can read the full report and learn more here: https://bit.ly/3xslCig

The 2024 Budget is delivering for every Australian, in every part of our economy, and every part of our country. International trade and investment is critical to our economy - with trade supporting 31% of Australia's economic output and 1 in 4 Australian jobs. At a time of great global uncertainty, free and open trade is more important than ever. More trade is a key part of how we build the stable and secure future we want. That's why the Albanese Labor Government is delivering support to help businesses and exporters diversify and grow their trading relationships, including: ➡ $29.9 million to make trade faster, easier and cheaper ➡ $14.4 million to boost trade and investment between Australia and India ➡ $2 million to help agricultural exporters re-connect with China and other markets ➡$10.3 million to help exporters tap into new overseas markets 📷 Last night I also welcomed the opportunity to speak with partners from the European Australian Business Council (EABC) about the importance of Australia's economic relationship with Europe. Trade and investment in Australia is a collective effort and I look forward to forging stronger economic ties with Europe, including as we work together towards the global transition to net zero. Read more about how the Albanese Government is securing Australia's future in the world: https://lnkd.in/ddSFjgH8

A great overview by Tom Goldsmith, PhD on the upsides and downsides of foreign direct investment into Canada. A very good read!

Inspired by John Ruffolo's recent post on the insanity of Canada's policy when it comes to foreign investment, I've taken a look at the pros and cons of FDI in today's Deep Dive newsletter (linked in the comments below). I've tried to take a nuanced view. There is plenty of evidence that foreign firms bring substantial value to Canada. They export more, they are often more productive, they are more R&D intensive, and they create spillovers to domestic firms, especially smaller firms that form part of their supply chains. And given Canada's size, we're never going to be in a place where we are entirely self-sufficient for financial resources, technological innovations, or technical expertise. However, it is by no means only a rosy picture. As Dan (Danny) Breznitz has argued, when it comes to attracting multinational enterprises' research centres "in the current world of fragmented global production, those R&D centres have a mostly negative impact on the local innovation ecosystem". These negative impacts can include contributing to rising inequality, challenges for domestic firms to compete for talent, less involvement in local ecosystems, and then the gains of the research going to MNE's HQs not to Canada. Given both of those things, I conclude with some thoughts on where that leaves us and how we can can be more strategic about FDI to ensure it brings benefits to Canada rather than harming our innovative companies. I hope you enjoy it!