Canada tells UAE it isn’t ready for its $70 billion investment
Canadian officials have told a United Arab Emirates delegation that billions of dollars in promised investment cannot yet be deployed because there are too few shovel-ready projects, despite Prime Minister Mark Carney's previously announced commitment to attract up to C$70 billion in UAE funding. The delay has increased pressure on the government to accelerate major infrastructure and energy projects ahead of a Toronto investment summit this fall, while officials say regulatory, legal and financing hurdles continue to slow progress on key initiatives, including a critical minerals agreement and other investments. Both Canadian and UAE representatives insist the partnership remains strong, with discussions continuing on future projects such as energy infrastructure, trade agreements and the Contrecoeur container terminal, even as business leaders call for regulatory reform to improve Canada's investment climate.
