Canada's Industry Minister Urges Nokia to Increase Investment Amid Strengthening Ties with Finland
Canadian Industry Minister Mélanie Joly has explicitly called for Finnish telecommunications giant Nokia to increase its investments in Canada. Speaking during a fireside chat with Finnish President Alexander Stubb at a business forum in Ottawa, Joly emphasized the potential for a 'golden age' in Canada-Finland relations, particularly in sectors like quantum computing, defence, and Arctic security. The event, attended by key ministers from both nations, highlighted synergies in industrial bases and knowledge expertise. Nokia Canada president Jeffrey Maddox expressed alignment with this goal, citing the company's recent $340 million expansion of its Ottawa facility, which received $72 million in government support. While some tech leaders criticized the subsidy as benefiting foreign entities, officials framed it as a strategic move to help Canada meet its defence spending targets. The discussions followed high-level meetings between Prime Minister Mark Carney and President Stubb, resulting in joint statements on cooperation in sovereign AI, the maritime economy, and defence. This engagement reflects Canada's broader strategy to deepen partnerships with European allies, with Stubb even suggesting potential future EU membership for Canada.
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Canada's Industry Minister Urges Nokia to Increase Investment Amid Strengthening Ties with Finland
Canadian Industry Minister Mélanie Joly has explicitly called for Finnish telecommunications giant Nokia to increase its investments in Canada. Speaking during a fireside chat with Finnish President Alexander Stubb at a business forum in Ottawa, Joly emphasized the potential for a 'golden age' in Canada-Finland relations, particularly in sectors like quantum computing, defence, and Arctic security. The event, attended by key ministers from both nations, highlighted synergies in industrial bases and knowledge expertise. Nokia Canada president Jeffrey Maddox expressed alignment with this goal, citing the company's recent $340 million expansion of its Ottawa facility, which received $72 million in government support. While some tech leaders criticized the subsidy as benefiting foreign entities, officials framed it as a strategic move to help Canada meet its defence spending targets. The discussions followed high-level meetings between Prime Minister Mark Carney and President Stubb, resulting in joint statements on cooperation in sovereign AI, the maritime economy, and defence. This engagement reflects Canada's broader strategy to deepen partnerships with European allies, with Stubb even suggesting potential future EU membership for Canada.
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