Saskatchewan is Open for Business
New Investment Attraction Strategy and Website Aim to Grow Provincial Economy
Saskatchewan will build on its recent economic successes with the release of Securing the Next Decade of Growth: Saskatchewan’s Investment Attraction Strategy. The strategy focuses on the Saskatchewan Advantage, which includes the province’s global reputation for having the food, fuel, fertilizer, and critical minerals that our growing world needs.
Saskatchewan is building on its reputation as one of the best places in Canada to do business. The province boasts a competitive business environment and has much to offer potential investors. This includes a strong suite of incentive programs to support investment attraction and economic growth.
The new investment attraction strategy focuses on three key pillars: building opportunities in new and emerging sectors to diversify the provincial economy, growing existing sectors, and connecting the world to Saskatchewan.
As home to 23 of the 31 critical minerals that make modern life possible, the province is currently seeing a generational opportunity to attract investment in new high demand areas like rare earth elements, lithium, helium, and base metal processing. Saskatchewan is also driving innovation in sustainability and clean technology. Building opportunities in these key sectors is vital to the future of global energy security.
Growing existing sectors also remains a priority for the province. Saskatchewan is known as a global powerhouse in agriculture, potash, uranium, oil and gas, and forestry production – and will continue to capitalize on these strengths. In 2022, for example, Saskatchewan was ranked first in Canada and third globally by the Fraser Institute as the most attractive jurisdiction for mining investment. This mining-friendly environment makes the province an ideal location for investors within the resource sector.
Sharing Saskatchewan’s story on the global stage is another key aspect of the province’s investment attraction strategy. Saskatchewan’s network of nine international offices has been vital in introducing local businesses to new markets and potential partners, as well as promoting opportunities and driving investment in the province. These international engagement efforts have been hugely successful in connecting the world to Saskatchewan, with almost $50 billion in goods exported in 2023 to over 160 countries.
“The opportunities for investment in Saskatchewan are bountiful,” Saskatchewan Chamber of Commerce CEO Prabha Ramaswamy said. “This investment strategy will serve as a catalyst to stimulate investments within the province, attract investments and businesses from outside the province, and boost economic growth.”
To support the investment attraction strategy, the provincial government launched a new trade and investment website at investSK.ca, which provides an overview of the world-class investment opportunities in Saskatchewan. The website serves as a gateway to the province for international businesses and investors. It also provides potential stakeholders with an opportunity to connect with the Ministry of Trade and Export Development’s investment attraction team and international offices.
Overall, both the new investment attraction strategy and website are vital tools in ensuring the ongoing economic success of the province. Saskatchewan has never been more ready to show the world what it is made of.