Daum Kakao to set up 100-bln-won new investment firm to seek out ventures

Montreal investment recruiter hopes FTA will boost industries

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Published : 2014-02-26 19:59
Updated : 2014-02-26 19:59

Elie Farah, vice president of Investment Greater Montreal
Canada’s Montreal is often associated with its clean environment and solid welfare system, but the region is also a business hub that attracts companies from all over the world.

“It is time that Korean companies invest their businesses there to reap the benefits of good accessibility, tax incentives, cultural diversity and other opportunities Montreal has to offer,” Elie Farah, vice president of Investment Greater Montreal, told The Korea Herald on Tuesday.

Farah was a delegate of Montreal’s investment inducement organization visiting Korea. He will stay until Friday to encourage investment from Korean companies.

“There are seven industrial clusters in Montreal and Greater Montreal that range from finance, ICT, life science and health technologies as well as clean tech,” Farah said.

“Not many people would have known that it is also home to the third-largest aerospace cluster in the world.”

Further, the city is just a 90- minute flight from New York, making it a gateway to major North American markets.

Currently, most of the foreign companies in Montreal’s industrial clusters are from Europe, but Canada hopes to change that, possibly with the long-awaited free trade agreement with Korea that is expected to be finalized this year.

“At the moment, most of Korea’s investment to Canada is in the energy sector but we are hoping more could come,” Farah said. “Montreal has a lot to offer.”

In 2013, British Columbia Premier Christy Clark visited Korea and urged local automakers to build plants in Canada.

Also last year, LG Household and Health Care acquired Canadian cosmetic brand Fruits and Passion, while Kia Motors established a training center there.

By Bae Ji-sook (baejisook@heraldcorp.com)

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