Quebec’s new industrial policy should strengthen strategic sectors and the city’s competitiveness
Montréal, February 26, 2013 – At the end of the day yesterday, the Board of Trade of Metropolitan Montreal presented its recommendations during consultations conducted by the Government of Quebec to develop an industrial policy. The Board of Trade insisted on the importance of continuing to develop the city’s clusters and high-value-added segments in so-called traditional economy sectors.
“An industrial policy is an important strategic tool,” said Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal. “Properly calibrated, it can strengthen our economy and allow the city to fully assume its role as a driver of the economy.”
“In order to flourish, many structuring industries need the economic conditions and effects of proximity that only large centres can offer,” Michel Leblanc said. ”The city’s industrial clusters and niches of excellence are the result of growth-generating economic dynamics and must continue to receive strategic support.”
“We support the government’s proposal to move our industrial base toward a greener economy,” Michel Leblanc said. “We welcomed the creation of a $200 million fund to promote the electrification of transportation. Such an initiative will ultimately reduce our dependence on oil and improve our balance of trade. But we encourage the government to remain vigilant with respect to projects put on the table.”
“An industrial policy must be part of an overall effort to make up for historically weak productivity among our businesses,” Michel Leblanc said. “To do this, it is essential to tie the industrial policy to government strategies to increase private investment, productivity, innovation and the development of international markets.”
“The government also has to bank on the exploitation of natural resources,” Michel Leblanc said. “The study on natural resource processing released by the Board of Trade at the beginning of February clearly shows the importance of the industrial base as a factor in the location of primary and secondary metals processing companies. An industrial policy, combined with a well-calibrated, competitive mining royalty regime, could be an important factor in attracting more private investment to this sector.”
The Board of Trade’s recommendations for developing an industrial policy can be summarized as follows:
- Support all high-value-added strategic sectors
- Bank on private investment and improve the productivity and competitiveness of our economy
- Strengthen innovation and its commercialization
- Support the development of international markets and our competitiveness
To consult the Board of Trade’s opinion on developing an industrial policy, click here. (In French only, English to come)
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.
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Source:
Sylvie Paquette
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4015
sylvie.paquette@ccmm.qc.ca
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