The province of Ontario is setting up a new office in Singapore, as part of its efforts to deepen cooperation in the Indo-Pacific region.

On this exclusive episode of Breakfast Special, Victor Fedeli, Canadian Minister for Economic Development, Job Creation and Trade expands the conversation on what Singapore businesses interested in expanding into Ontario and vice versa, can look forward to as Canada and Singapore deepen trade ties and partnerships. 

Presented by: Emaad Akhtar

Produced and edited by: Yeo Kai Ting (ykaiting@sph.com.sg)

Music/sound credits: pixabay & its talented community of contributors

Highlights: 

(00:08) Minister Fedeli, have you managed to sample some of the local food here? 

(00:36) And what's your favourite dish? 

(00:50) Breakfast Special Introduction

(02:08) Minister, let's first talk about businesses that are interested in setting up shop in Ontario. Off-air, you told me something quite staggering, which is that Ontario rivals Silicon Valley in the number of employees it attracts. Could you elaborate on the types of opportunities that these businesses will get access to? And why should they choose Canada over other markets?

(03:07) Now, we know Canada is big on innovation. And as a famous saying goes, "necessity is the mother of invention" or innovation in this case, are there specific kinds of businesses or sectors that you're hoping to attract?

(04:11) Minister, as with all kinds of expansion abroad, there's bound to be challenges that have to be navigated as well. So, what's the kind of advice that you would offer for businesses looking to expand to Canada? And what sources of support are there for foreign businesses should they meet with operational difficulties on the ground?

(05:05) Is there a hard date that you have set for the opening?

(05:39) In 2022, we understand that Singapore was Canada’s largest destination in Southeast Asia for Canadian direct investment abroad (worth $27.9 billion), while Singapore was Canada’s largest source of foreign direct investment from Southeast Asia, hitting $2.62 billion. Which are the key sectors that contributed to this? 

(07:07) During Canadian Prime Minister Justin Trudeau’s last visit to Singapore, he announced the intention to open a trade gateway in Singapore. Could you elaborate on some exciting developments in the pipeline that businesses can look forward to? 

(08:16) You mentioned that Ontario is setting up an office here in Singapore. Would you be able to share perhaps a ballpark figure as to roughly how much Canada is planning to pump in when it comes to investments in the Indo Pacific region, or more specifically in Singapore in the coming months ahead?