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A new bill presented in the Alberta legislature by the UCP government on Tuesday aims to attract investment in the province’s key industries to help repair the damage done by the COVID-19 crisis.
Economic Development, Trade and Tourism Minister Tanya Fir presented Bill 33, the Alberta Investment Attraction Act, which would create an arm’s length corporation responsible for stimulating national and international investments primarily in the energy, agriculture and tourism industries to fuel growth in the economy.
If passed, the act would see an $18-million, three-year commitment from government, and would also look at “pursuing investment opportunities in high-growth industries such as technology, aviation and aerospace and financial services,” a statement on the proposed bill read.
“Our government realizes we must redouble our efforts to generate new sources of revenue to keep our economy moving,” Fir said during a news conference Tuesday. “As we recover from COVID-19, Alberta’s economic recovery will count heavily on new, private capital investment to help restore and stabilize business growth.”
