The Asia Pacific Foundation of Canada is pleased to launch its annual Investment Monitor report reviewing two-way investment flows between Canada and the Asia Pacific that occurred in 2023. The report examines foreign investment at both national and sub-national levels and highlights relevant government policies that could impact future investments.
This year’s report also includes illustrative case studies showcasing major investment projects on both sides of the Pacific in 2023.
APF Canada is grateful for the sponsorship and support it has received from Export Development Canada for the Investment Monitor project.
Key Takeaways:
- Two-way foreign direct investment (FDI) flows between Canada and the Asia Pacific economies increased by approximately 18% from C$29.8B in 2022 to C$35.1B in 2023.
- Canada’s top five two-way investment partners in the region in 2023 were Australia, China, Singapore, India, and Japan.
- The mining and chemicals, finance, and energy industries were the main beneficiaries of two-way Canada-Asia Pacific investment flows in 2023.
- Ontario, Saskatchewan, and British Columbia received the majority of FDI flows (90%, or C$20.7B) from the region in 2023, with all three provinces recording an increase in investment compared to 2022.
- Three Australian states — New South Wales, Queensland, and Western Australia — and two Indian states and one union territory — Maharashtra, Haryana, and Delhi — placed among the top 10 recipients of Canadian investment flows into the Asia Pacific in 2023.
- In 2023, greenfield investments accounted for 44% of Canada-Asia two-way investment flows, the highest proportion in the past five years.
