The battery sector projects announced with great fanfare last year helped Investissement Québec (IQ) – the financial arm of the government – to break records in terms of foreign direct investments, which amounted to 13.1 billion .
Unveiled Thursday at a press conference, this result is twice as high as the record of 6 billion recorded in 2022.
“The results of the last financial year are at a peak and we can be proud,” said IQ President and CEO Bicha Ngo. The Quebec government gave us ambitious targets in 2019 and we achieved them. »
This is a “historic” performance that was recorded last year, she added. Mme Ngo was accompanied by the Minister of Economy, Innovation and Energy Pierre Fitzgibbon, the vice-president of exports at IQI, Marie-Ève Jean, as well as vice-president of foreign direct investments of the company State, Daniel Silverman.
Overall, IQ’s international division completed 109 projects last year, 16 fewer than in 2022. Foreign investments came from 27 different countries.
The state-owned company underlines, in its results, that the Quebec battery industry as well as the natural resources sector represented a “significant part” of the results obtained.
Investissement Québec International also has the mandate to stimulate exports. According to the organization, the 4,055 business supports generated 5.1 billion in sales outside Quebec.
Approximately 60% of exports were made to the United States, 31% to the rest of the world and 10% elsewhere in Canada.
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- 2.3 billion
- Value of foreign investments in the province in 2018, before the creation of the international division of Investissement Québec.
Quebec investment