Punjab Outlook

Ottawa-Prime Minister Mark Carney has announced plans to create Canada’s first sovereign wealth fund, a new investment vehicle aimed at financing major projects deemed vital to the country’s long-term economic and infrastructure needs.
The proposed fund, named the Strong Canada Fund, will support the construction and development of major projects of national interest. Carney said the fund will work alongside the private sector and give Canadians a direct opportunity to invest in projects designed to strengthen the country.
Carney outlined the plan in a video posted online, saying the fund will give Canadians a way to contribute financially while also sharing in its benefits.
“If you have a bit of extra money, we’ll make it easy for you to invest in the fund to help build Canada strong for all,” he said.
More details on the structure, investment model and operation of the Strong Canada Fund are expected later Monday. Carney is also expected to explain how individual Canadians, private investors and other partners will take part.
The announcement follows the passage of Bill C-5, Carney’s legislation designed to shorten approval timelines for major infrastructure projects labelled as “nation-building.” The bill passed through Parliament last June.
The second part of Bill C-5, known as the Building Canada Act, gives the federal cabinet authority to identify major projects, approve them upfront and override federal laws, environmental reviews and permitting processes.
The legislation aims to reduce approval timelines from five years to two by using a “one project, one review” system. Under this approach, federal and provincial assessments move through a more streamlined process, rather than taking place one after another.
Carney has framed the changes as part of a broader effort to accelerate major infrastructure development while attracting private-sector participation.
The Strong Canada Fund will also connect to the Major Projects Office, or MPO, which Carney created last August. The office serves as a central point for project pitches, complaints and public concerns tied to major national developments.
When announcing the MPO, Carney said it would “help structure and co-ordinate financing from the private sector, provincial and territorial partners” and the federal government to protect value for taxpayers.
Further details expected later this morning will outline how the MPO and the Strong Canada Fund will work together to finance and advance major projects across Canada.