Ottawa, July 25, 2017 —Present market conditions and the uncertainty businesses face when investing have resulted in Petronas and its partners cancelling a $36-billion project that would have brought major employment and investment opportunities to British Columbia and Canada.
“Whatever the combination of reasons that resulted in this decision, the effect is a loss of jobs and opportunity for Canadian families. This project in particular was remarkable in that it had support from various levels of government, local communities and Indigenous peoples in the area. It is truly a missed opportunity for Canada,” said the Hon. Perrin Beatty, President and CEO of the Canadian Chamber of Commerce.
The Canadian Chamber of Commerce led a delegation of chamber leaders from across the country to visit the area where the project would have been built last year. The purpose of the visit was to learn more about the export opportunities for LNG.
“The federal government has set a goal of significantly increasing investment in Canada. Now is the time for all levels of government to work together to relieve the regulatory, tax and cost burdens that drive away investment. We need to make sure Canada remains a preferred location to invest, to work and to grow,” concluded Mr. Beatty.
The Canadian Chamber of Commerce is the vital connection between business and the federal government. It helps shape public policy and decision-making to the benefit of businesses, communities and families across Canada with a network of over 450 chambers of commerce and boards of trade, representing 200,000 businesses of all sizes in all sectors of the economy and in all regions. News and information are available at Chamber.ca or follow us on Twitter @CdnChamberofCom.
Director, Public Affairs and Media Relations
Canadian Chamber of Commerce