National

Foreign investment drives growth in BC

Darpan News Desk The Canadian Press, 14 Nov, 2024 12:40 PM

Invest Vancouver — Metro Vancouver's regional economic development service — has released a new report that it says shows "how foreign direct investment is a powerful driver of employment and economic growth in B-C."

The report says in 2022 that foreign multinational enterprises employed more than 349-thousand people in B-C, which marked a 46.3 per cent increase when compared to 2016.

It says the largest driver of employment by sector for foreign enterprises in the province is the professional, scientific and technical services, which increased by more than 190 per cent from 2016 to 2022.

Mike Hurley, chair of the Metro Vancouver Board, says in a news release that foreign investment spurs local business activity, expands job markets, broadens the tax back and "directly supports" employment and G-D-P growth.

Prev Next

MORE National ARTICLES

West Coast Express commuter trains resume Monday as rail staff ordered back to work

Metro Vancouver's transit authority says the West Coast Express commuter train service shut down last week due to the Canada-wide rail stoppage will resume operations this week. TransLink issued a statement saying services will resume their normal schedules starting Monday, although there may be some delays "due to freight traffic backlog."

West Coast Express commuter trains resume Monday as rail staff ordered back to work

Canada to hit China with tariffs on electric vehicles, aluminum, steel

Canada is moving to match the United States with new tariffs on electric vehicles made in China in a bid to keep the cars from getting a significant foothold in the North American market. Prime Minister Justin Trudeau outlined the plan at the federal cabinet retreat in Halifax on Monday, promising to increase import taxes on Chinese-made EVs to 106.1 per cent on Oct. 1, up from 6.1 per cent.

Canada to hit China with tariffs on electric vehicles, aluminum, steel

Canada to restrict low-wage foreign workers, consider lower immigration targets

Prime Minister Justin Trudeau is urging businesses to hire Canadians as his government announces new restrictions to limit the number of low-wage temporary foreign workers in the country. Ottawa is also considering whether to reduce its annual targets for permanent residency — a potentially major shift on immigration policy for the Liberals.

Canada to restrict low-wage foreign workers, consider lower immigration targets

Canada's two major railways resume service as railroaders return to work

Trains began to trundle along the tracks of Canada's two major railways on Monday after the federal labour board ended a four-day work stoppage that snarled supply chains and upended commutes. Amid a bitter labour dispute, the Canada Industrial Relations Board on Saturday ordered Canadian National Railway Co. and Canadian Pacific Kansas City Ltd. to resume operations and 9,300 workers to return to their posts at 12:01 a.m. ahead of binding arbitration set to begin this week.

Canada's two major railways resume service as railroaders return to work

Strike threat looms in HandyDART dispute as union vote suspends job action

Potential disruption to British Columbia's HandyDART transit service this morning was averted after workers suspended job action to vote on a final contract offer, but strike action remains a possibility. Amalgamated Transit Union Local 1724 says it will give a 72-hour strike notice if the membership votes down the latest offer by Transdev Canada.

Strike threat looms in HandyDART dispute as union vote suspends job action

Crews face tree danger from high winds as B.C. wildfires abate due to precipitation

Heavy rain in parts of British Columbia over the weekend has lowered wildfire activity in the southern part of the province, but firefighters say strong winds are creating some tree hazards for crews. The BC Wildfire Service says in its latest update that the number of active blazes in the province has fallen to around 311, continuing a downward trend from Friday when there were about 340 fires burning.