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1 Apr 2010

Economic growth and diversification: Québec targets Sweden and Norway

Minister Pierre Arcand.

Pierre Arcand, Minister of International Relations and Minister responsible for La Francophonie, will be in Sweden and Norway from April 6 to 9. He will be accompanied by the President and CEO of Investissement Québec, Jacques Daoust. The prospecting mission will focus on identifying new business opportunities in the Scandinavian countries.

Pierre Arcand’s agenda includes political and economic meetings with officials such as Norway’s Secretary of State for Foreign Affairs and Sweden’s State Secretary to the Minister of International Trade. These meetings will be an opportunity to discuss investment opportunities for Québec companies and promote the Canada–European Union economic partnership agreement. Minister Arcand and Jacques Daoust will also talk to pharmaceutical and information technology sector leaders about Québec’s competitive advantages.

Three Scandinavian nations, Sweden, Denmark and Finland are among the world’s ten most competitive countries according to The Global Competitiveness Report 2009-2010, published by the World Economic Forum. Sweden, which is number-four in terms of global competitiveness, is the leading Scandinavian country when it comes to investments in Québec. In 2007, it was number-seven in the European Union under the heading of foreign projects.

These data illustrate the great potential for welcoming new Scandinavian businesses and reinvestments by subsidiaries already present in Québec. Large companies like Novabus, Electrolux, Ericsson, Camfil Farr and SCA Hygiene Products have operations in Québec. Recent investments include the September 2009 announcement by Norwegian video game company Funcom that it plans to set up shop in Québec, on the heels of more than three years of prospecting efforts by Investissement Québec. Funcom plans to hire 100 to 150 people over the next three years.

Scandinavia is part of the territory covered by the Québec government office in London.

Québec government office in London
Investissement Québec
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