March 16, 2021

Episode #38: How an Industry-Led Economic Strategy Can Spur Growth and Innovation for Canada’s Future

From climate action to advancing reconciliation with Indigenous Peoples, Canada faces many grand challenges, and COVID response and economic recovery are currently chief among them.

Just as we are harnessing the collective intelligence and expertise from Canada’s science and health community to support effective COVID-19 response and public health protection, we need to harness the collective talent, expertise, and resources of Canada’s industry leaders to inform effective economic recovery and future growth strategies. (Innovation, Science, and Economic Development Canada News Release, May 2020)

In May 2020, the federal government established the Industry Strategy Council to do just that—to assess the scope and depth of the economic impact from COVID-19 on Canada’s key sectors and to evaluate the opportunities for government and industry to work together to promote a safe economic recovery and accelerating the growth needed to build future prosperity for Canadians.

This episode is a recording of a recent panel discussion BCA hosted with ISC members to discuss the Council’s report, Restart, recover, and reimagine prosperity for all Canadians: An ambitious growth plan for building a digital, sustainable and innovative economy, and why an industry-led economic strategy can help spur innovation, investment, and growth for Canada’s economy—and contribute to the solutions to the big challenges we face.

The panelists included:

  • Monique Leroux, former Chair, President and CEO of the Desjardins (day-jar-dins) Group and Vice-Chair of Fiera Holdings Inc. and Chair of the Industry Strategy Council;
  • Mark Little, President & CEO of Suncor Energy and Chair of the Resources of the Future Economic Strategy Table; and
  • Murad Al-Katib, President & CEO, AGT Foods & Ingredients and Chair of the Agri-Food Economic Strategy Table

In This Episode:

  • Overview of the Industry Strategy Council report
  • Reactions and consultations with Canadians and Canadian business leaders
  • Where we start on the road to recovery
  • Telling a future-focused energy story that positions Canada for recovery, improved competitiveness, AND leadership in emissions reduction
  • Canada as a leader in the convergence of technology, innovation, and resources
  • Advancing the value-added agriculture
  • Industry and government collaboration to advance economic recovery
    • Developing a vision for Canada’s economy
    • Connecting technology and talent to drive this vision forward
    • Engaging and supporting the private sector as partners
  • The role that private industry has in moving the ISC recommendations forward
  • Building trust of business and its broad role in society in creating prosperity and caring for people and planet
  • Top priorities from report to implement immediately 

Resources Mentioned:

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