Invest in Canada

Government butters up foreign reporters to beef up investment

by investor on 11/06/09 at 11:01 am

The Conservative government is flying reporters to Canada and beefing up its presence on the international trade-show circuit, but Trade Minister Stockwell Day wants more bucks to stimulate flagging foreign investment.

Day is pushing his cabinet colleagues for a larger chunk of the $50 million the government sets aside annually in the budget under the Global Commerce Strategy.

Internal and external critics, including some of the provinces, have bemoaned Canada’s weak or outdated image abroad.

“We are getting the cue from people outside the country who are saying that Canada should market itself more and get the message out about what a good place this country is in which to work and invest and to live,” Day said in an interview.

Some of the components of a larger visibility push are already in place.

The Department of Foreign Affairs and International Trade has been bringing groups of foreign journalists to Canada, paying for their flights, accommodations and giving them a daily allowance.

While they’re here, the reporters get special access to high-profile figures such as Day, Finance Minister Jim Flaherty, Bank of Canada governor Mark Carney and the heads of the major banks.

The media coverage pays off in spades, says Day.

One recent junket produced positive coverage in France’s Le Figaro and Belgium’s De Tijd, with headlines like, “Canadian Lessons for Belgium,” or “The Canadian banking sector brags it’s one of the most solid in the world.”

“You’re not buying the ads, you’re subject to an array of questions from a reporter, which is fair game,” said Day. “But we think we’ve got a fair message that stands up to those investigative questions.”

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