THE QUÉBEC ADVANTAGE SUMMARY THE QUÉBEC GOVERNMENT S ECONOMIC DEVELOPMENT STRATEGY

Transcription

1 THE QUÉBEC ADVANTAGE SUMMARY THE QUÉBEC GOVERNMENT S ECONOMIC DEVELOPMENT STRATEGY

2 FOSTER PROSPERITY Québec has achieved an enviable position at the international level from the standpoint of Quebecers standard of living. Our economic prosperity has enabled us to establish outstanding universal health, education and social protection systems. However, sweeping changes in the international economic environment and the ageing of the population are daunting challenges that we must meet if we wish to continue to prosper. The Québec government s economic development strategy pursues the objective of fostering prosperity, which will lead to the genuine enrichment of Quebecers and the enhancement of their quality of life. Historically, Quebecers income has fallen below that of Canadians. The government wishes to ensure that: Quebecers standard of living, measured by per capita personal income, increases more rapidly than the average figure for Canadians over the next five years. BASIS FOR ACTION The strategy centres on the following bases for action: The private sector is the driving force of economic development. Québec is open to the world. The private sector must assume its share of risk in economic projects. The government s decision to associate with a private promoter will be made following an objective, rigorous analysis. Prosperity must benefit all Quebecers. The development of public infrastructure contributes to economic development. Prosperity must benefit all regions of Québec. The economic development that Québec is seeking is in keeping with the perspective of sustainable development. The government is fostering cooperation between the stakeholders in economic development. 1

3 SIX CHALLENGES TO BE MET TO ENSURE PROSPERITY Québec and its economy must face daunting challenges in the coming years. To prosper, Québec must meet six key challenges: Create wealth and jobs in all regions of Québec. Increase productivity. Rely on research, innovation and technology transfers. Face growing competition on various markets. Develop the upcoming generation of entrepreneurs. Respect the imperatives of sustainable development. To meet these challenges, the Québec government is playing a major role in the implementation of conditions that facilitate and accelerate the start up of economic projects that create wealth and jobs. Since 2003, it has acted quickly to enhance in several ways the business environment and bolster the Québec economy s advantages through: rigorous management of public finances; a major reform of the key levers of economic development; broader powers and more extensive means for the regions. BANK ON QUÉBEC'S NINE ADVANTAGES Québec enjoys undeniable strategic advantages that enable it to excel. For this reason, the Québec government is proposing, within a framework of sustainable development, a strategy to increase wealth that hinges on nine key advantages of the Québec economy. The nine advantages of the Québec economy, the attendant targets and the means pinpointed to attain them are discussed below. 2

4 1 A COMPETITIVE BUSINESS ENVIRONMENT The government defines a number of rules and parameters that guide and influence the development of businesses, e.g. the legislative and regulatory framework, taxation, trade agreements, and public facilities and infrastructure. The Québec advantage in the realm of the business environment centres primarily on special access to a trade zone comprising Canada, the United States and Mexico in which over 400 million consumers live, a quality living environment, a well developed transportation infrastructure network, and a universal public health system. Targets to be attained Create a competitive fiscal environment for businesses that fosters investment and economic growth. Reduce by an additional 20% by 2010 the cost of the administrative formalities imposed on businesses. Facilitate the processing of the files of promoters who wish to carry out in Québec economically promising projects by assigning to them a project manager who acts as the sole link between the promoter and the government. Ensure the ongoing maintenance and development of transportation networks to meet economic challenges and, in particular, improve the quality of the upper-tier road network to bring it up to the standard in neighbouring provinces and states. Complete by 2009 the reform of corporate taxation announced in the Budget Speech by seeking to make fully competitive the taxation system applicable to Québec businesses in relation to the overall tax burden imposed on businesses elsewhere in Canada. This reform takes into account both Québec s priorities, especially the stimulation of investment in machinery and equipment, and the desire to encourage businesses to contribute equitably to the government s tax revenues. Pursue the objective of reducing the tax burden of individuals. 3

5 A COMPETITIVE BUSINESS ENVIRONMENT Assign, starting in January 2006, to each promoter who wishes to carry out a promising economic development project an official who will act as the sole liaison between the promoter and the government. Allow the matching of the information return of the Régistraire des enterprises and both the corporate tax return and the tax return of individuals in business. Complete by 2007 the implementation of the portal for entrepreneurs, businesses and investors to enable them to carry out most transactions online, thus largely simplifying relationships between businesses and the government. Implement the government policy (Rules regarding the streamlining of legislative and regulatory standards) and action plan (Simplifier la vie des enterprises pour créer plus d emplois et de richesse) adopted in 2004 in respect of administrative and regulatory streamlining. Invest by 2010 $10 billion in the renovation and development of transportation networks: - Allocate by 2010 $1.4 billion in government funding per year, on average, to the renovation and development of the road network, nearly double the amount invested between 1994 and Invest by 2010 $3 billion to enhance the public transportation system. Add to these investments in the road networks and public transit systems some $100 million paid by the Québec government in partnership with the federal government and the private sector to rebuild railway infrastructure and add intermodal equipment, especially in the realm of maritime transportation, in order to consolidate in the regions of Québec transportation networks other than road networks. 4

6 2 ECONOMIC CONDITIONS THAT ARE FAVOURABLE TO INVESTMENT Investment is a key component of prosperity, which makes it possible to modernize plants and bolster their productivity. The Québec advantage in the realm of investment centres primarily on a modern, diversified economy, strong natural resource development potential, competitively priced energy, business start-up and operating costs that are among the lowest in the industrialized nations, and abundant venture capital. Targets to be attained Increase from $20.1 billion for the period to $23.5 billion for the period the average value of non-residential private investment carried out in Québec (average annual growth of 4%). Double the annual growth rate of investment in machinery and equipment in the manufacturing sector from 2.6% in 2004 to 5.2% in 2010, an increase in such investments from $4.1 billion in 2004 to $5.5 billion in Halve by 2009 the tax on capital, i.e. reduce the tax rate from 0.60% to 0.29%. The government is striving to eliminate it completely. This is a developmental measure designed to promote investment in machinery and equipment, a measure that will make it possible to accelerate the process of modernizing businesses. Maintain the application of the 5% credit on the tax on capital for new investments by manufacturing concerns undertaken by This credit makes it possible to reduce and even, in some instances, to cancel, the tax on capital paid by such firms. The unused portion of the credit may be carried over to subsequent years. This measure sends a clear message to manufacturing companies: the amount of support is linked to their efforts to modernize machinery and equipment. 5

7 ECONOMIC CONDITIONS THAT ARE FAVOURABLE TO INVESTMENT Make public in the coming months the first government strategy to promote and canvass for direct foreign investment. In particular, this strategy will: - highlight Québec s advantages; promote Québec as a solid, attractive, avant-garde place to do business; - better target investment canvassing efforts: give priority to businesses already operating in Québec; - adapt the services offered to the investor s needs; emphasize personalized service and tailor-made financing; - act in synergy through the dynamic coordination of the organizations concerned. Pursue the reform of the Québec venture capital industry that the government has initiated in conjunction with the report of the Groupe de travail sur le rôle de l État québécois dans le capital de risque (Brunet report). The government will complete the conversion of the Société Innovatech Québec et Chaudière-Appalaches and the Société Innovatech Sud du Québec into a private-public corporation and will pursue the establishment in all regions of Québec of mixed private-public investment funds (FIER). Continue to support developmental economic projects through the Société générale de financement (SGF) and Investissement Québec (IQ). The SGF will submit to the government for approval this fall its development plan, which indicates its investment strategy in the coming years. IQ will implement its plan, which takes into account the government s new policy directions. Other initiatives will be introduced as needed to promote the expansion of the Québec venture capital industry. 6

8 ECONOMIC CONDITIONS THAT ARE FAVOURABLE TO INVESTMENT Make public in the fall of 2005 a comprehensiveness policy statement on the review of the governance of government-owned corporations. The duties of the chairman of the board of directors and the president and chief executive officer will be separated. The government will broaden the accountability and transparency of government-owned corporations, in particular by strengthening practices in respect of audits and accountability. Encourage investment through business immigration under the Programme des immigrants investisseurs and the Programme des immigrants entrepreneurs. The ministère de l Immigration et des Communautés culturelles has adopted a strategy to support even more extensively investment through business immigration in order to increase spinoff from such investment, especially among Québec SMEs. 7

9 A LEADER IN RESEARCH AND INNOVATION 3 To develop and prosper, Québec must rely on massive research and development (R&D), which allows it to focus resolutely on the knowledge-based economy. Québec is a leader in this regard: in 2002, it devoted the equivalent of 2.67% of GDP to R&D. Such efforts must lead to new products, processes and services that foster the creation of wealth and jobs. The Québec advantage in the realm of research and innovation centres primarily on world-class researchers, universities and research centres, state-ofthe-art research infrastructure, extensive research development and technology transfer measures, and significant R&D tax incentives. Targets to be attained Attain by 2010 the equivalent of 3% of GDP in research spending and maintain Québec among the leading governments in subsequent years (at this rate, R&D spending would rise from $6.5 billion in 2002 to nearly $10 billion in 2010, an average annual increase of 5.2%). Increase spending by businesses on R&D from 60% in 2002 to over 66% in 2010, i.e. from $3.9 billion to $6.6 billion. ENCOURAGE RESEARCH Support the recruiting and retention of world-calibre researchers in high-technology firms and facilitate the integration of graduates with master s and doctoral degrees in the sciences and engineering. Accelerate the development of research in strategic fields such as the nanotechnologies and genomics, which are promising for businesses in numerous economic sectors. Promote participation by businesses in international projects and research and transfer networks in key sectors for economic development. 8

10 A LEADER IN RESEARCH AND INNOVATION FOSTER RESEARCH GEARED TO SECTORS WITH HIGH POTENTIAL Promote industrial research conducted through partnerships by groups and sector-based business consortia and research institutions. Promote the development and organization of research and knowledge transfers in regional niches of excellence in order to help create major industrial hubs. Contribute by means of targeted R&D and innovation initiatives in the rehabilitation and development of threatened traditional sectors. BROADEN ECONOMIC SPINOFF FROM RESEARCH Step up the industrial development of the findings of institutional research through support for procedures and measures that facilitate the shift to the marketing of technologies. Support efforts to innovate made by businesses, especially SMEs, by facilitating recourse to technical expertise networks, consolidated in particular in the CCTT, CRIQ and public research agencies. Support efforts to innovate in the realm of work organization. Moreover, it is important to heighten public awareness of the challenges posed by science and technology in order to inform Quebecers of and make them more receptive to the contribution that science and technology make to economic development. Broaden access to scientific information. Promote the organization of exchanges and debates between scientists and the public. The government plans to do even more. It will establish in the near future the Conseil des partenaires de l innovation that assembles representatives of industry, public research institutions, the associations concerned and experts in the field. The Conseil will advise the Minister of Economic Development, Innovation and Export Trade on science and innovation, especially on the priorities and strategies for action to be adopted in conjunction with the review of the Politique de la science et de l innovation. 9

11 COMPETENT WORKERS 4 Modern, prosperous economies rely on skilled workers. To attract, retain, develop and mobilize workers are all strategic factors for businesses seeking to prosper in light of prevailing competition and demographic change. The Québec advantage in the realm of manpower centres primarily on a complete education system that is readily accessible throughout Québec, world-class universities, an immigration policy that fosters the selection of qualified workers, and significant progress over the past 10 years in respect of labour force participation. Targets to be attained Increase by 2010 from 74% to 80% the proportion of working-age Quebecers who possess a diploma. Increase by 2010 by 10% the number of vocational and technical training graduates in those sectors seeking workers. Increase over the next five years the employment rate of Quebecers in the 15-to-64 age group more rapidly than the average Canadian rate. Accelerate the implementation of skills-based programs in vocational and technical training geared to those jobs most in demand and actively seek participation by businesses (loan of equipment and acceptance of trainees). Step up measures to facilitate the transition from vocational training to technical training and from technical training to university training. Update the methods of selected qualified immigrant workers according to current and future labour market needs. 10

12 COMPETENT WORKERS Foster the long-term integration into the labour market of immigrants, especially by facilitating and ensuring the recognition of skills acquired abroad in cooperation with representatives of the professional corporations and other interested partners. Promote vocational, technical and advanced university training among Québec and foreign students. Implement the Québec parental insurance plan to help reconcile work and family life. Negotiate an agreement with the federal government so that seasonal workers are strongly encouraged during recurring periods of unemployment to participate in basic training that leads to a high school diploma or vocational or technical training. Step up partnerships that make it possible for company executives and managers to participate in awareness and training campaigns devoted to best business practices, focusing, among other things, on innovation and human resources management. Implement measures to promote phased retirement in order to encourage those individuals who so desire to remain active on the labour market while increasing their future pension benefits. 11

13 SMES THAT ARE AT THE FOREFRONT OF ECONOMIC DEVELOPMENT 5 Québec is a haven for SMEs, which are found throughout the province. They are the cornerstone of Québec s economic development. Entrepreneurship is a key basis for economic development and Québec has developed solid infrastructure to support SMEs. The Québec advantage in the realm of business development centres primarily on SMEs that create throughout the province a high proportion of new jobs and foster the transformation of the economy through their ability to integrate new technologies. Québec also has a tradition of partnership with organizations that promote entrepreneurship and upcoming businesses, not to mention an extensive cooperative sector. Target to be attained Accelerate by 2010 the pace of net business creation in Québec to 1000 enterprises per year, on average. Pursue the Défi entrepreneuriat-jeunesse initiative, coordinated by the Secrétariat à la jeunesse, which is seeking to establish a solid entrepreneurial culture through the implementation of the entrepreneurship-study program in Québec schools and the dissemination of effective strategies such as mentoring and networking. Broaden partnerships with agencies dedicated to promoting and heightening awareness of entrepreneurship in order to develop an entrepreneurial culture and introduce new entrepreneurship development tools. Support company executives and managers who offer mentoring services to new entrepreneurs and foster spin-off. 12

14 SMES THAT ARE AT THE FOREFRONT OF ECONOMIC DEVELOPMENT Support business incubators because of the decisive role they play in the start-up and development of viable new businesses. Encourage the creation and development of businesses in the cooperative sector, which are noteworthy, in particular, for their high survival rate. Facilitate access to microlending to enable underprivileged clienteles to start up businesses by relying on loan funds and lending circles. Encourage, in partnership with the Fondation de l entrepreneurship, the training of boards of directors in businesses, since they are a key factor in continuity. Develop partnerships in order to enhance assistance and advice with respect to innovation, exporting and change management. For example, over a year ago the MDEIE set up, in collaboration with Emploi-Québec, the Mouvement québécois de la qualité and the Institut de développement de produits, some 40 innovation networks for manufacturing SMEs. Promote the expansion of certain enterprises that are Québec leaders in strategic sectors. Pursue the implementation of the Québec strategy to retain businesses through concerted, proactive measures aimed at maintaining jobs in Québec. Support the upcoming generation of business executives to prevent the closing or relocation of SMEs by assisting executives in planning and carrying out the transfer of their companies. 13

15 AN ECONOMY GEARED TO EXPORTING 6 Québec s prosperity relies to a great extent on our ability to make the most of the business opportunities that external markets offer. In recent years, Québec has taken advantage of expanding world trade and opportunities stemming from freer trade. Given the growing momentum of emerging economies such as China or India, it is important to maintain and even improve the competitiveness of Québec businesses. The key American market accounts for over 50% of our sales outside Québec and the North American Free Trade Agreement offers us an imposing potential market. The Québec advantage in the realm of exporting centres primarily on $141 billion in goods and services exports, equivalent to 53% of GDP and roughly 30% of jobs. In addition, over 9000 exporters sell nearly 4700 categories of products to over 200 countries. Target to be attained Increase by 25% by 2010 the number of goods exporters with annual foreign sales between $1 million and $25 million. CONSOLIDATE THE PRESENCE OF EXPORTING FIRMS Target greater numbers of businesses that are inclined to persevere on external markets and promote their consolidation. Encourage Québec firms to join forces in regional or sector-based exporters networks or networks geared to serving specific markets. Develop partnerships with sector-based or regional organizations engaged in exporting. Foster the establishment of businesses abroad as a means of conquering new markets against a backdrop of increasingly integrated international competition (on-site sales office, an alliance with a foreign firm offering allied services). 14

16 AN ECONOMY GEARED TO EXPORTING EXPAND SALES ON THE CANADIAN AND US MARKETS Step up targeted missions on US markets, especially in the northeastern US and markets in the rest of Canada. Consolidate the main cross-border trade corridors, e.g. the Québec-New York, Atlantic provinces-québec-ontario-midwest and Québec-New England corridors. Make a tangible contribution to the Security and Prosperity Partnership of North America and help businesses to comply with new customs clearance measures in order to accelerate border crossings. DEVELOP MARKETS OUTSIDE CANADA AND THE UNITED STATES Focus on geographic markets that offer Québec exporters the greatest potential and give priority to these markets when trade missions are organized, especially to the United Kingdom, France, Mexico, Japan, China and India. Restructure the economic services in the network of Québec government delegations and offices abroad in light of these priority markets. The Minister of International Relations will make public the government s key policy directions concerning the development of international relations. 15

17 SOLIDLY ESTABLISHED KEY SECTORS 7 The government intends to continue to support the establishment of sector-based business networks and to strengthen ties between subcontractors, suppliers and major prime contractors. It also plans to encourage the development of strong subcontractors capable of carving out a niche on domestic and foreign markets. The government also wishes to continue to support the emergence of new leadingedge sectors and to support the consolidation and restructuring of traditional sectors in transition that are subject to strong pressure stemming from market globalization. The Québec advantage in several key sectors centres primarily on world-class aerospace, pharmaceutical and biotechnology industries and highly competitive firms in sectors such as ground transportation, light metals, chemistry, petrochemistry and consulting engineering. Québec also has an information technologies industry that occupies an enviable position, businesses in the environmental sector that are meeting the challenges posed by sustainable development, and emerging sectors with promising potential such as the nanotechnologies and composite materials. Targets to be attained Support the expansion of industrial sectors in leading-edge fields, in particular the aeronautics, biotechnology, pharmaceutical and information technologies sectors. Consolidate leading businesses in various industrial sectors. Maintain Québec s comparative advantage in leading-edge financial sectors, particularly derivatives and risk management. Develop sector-based business networks and promote the emergence of strong suppliers in such networks. Increase by 10% by 2010 added value in the bio-food sector. Support the shift by sectors in transition, especially the textile, clothing, furniture and forest products sectors, to more targeted niches in respect of which they possess advantages. 16

18 SOLIDLY ESTABLISHED KEY SECTORS Adopt a Québec aerospace strategy aimed at fostering the development in Québec of new engines, helicopters and aircraft. Support the emergence of world-class subcontractors and support research and technology transfers. Adopt a Québec strategy in respect of the biopharmaceutical sector that seeks to encourage big pharmaceutical firms to invest more extensively in R&D and interest foreign investors in the Québec biotechnology sector. Create conditions conducive to the strengthening of businesses in the biotechnology sector, in particular by increasing alliances between biotechnology firms and major pharmaceutical firms. Support enterprises in the information and communications technologies sector to enable them to carry out in Québec international mandates and market new products with higher added value in market niches with high potential. Offer continued support to leaders in the information technologies sector and the cultural industries to enable them to carry out in Québec international mandates, e.g. through the establishment of partnerships, and to market new products. Analyse existing tax measures that affect the financial sector to ascertain how the government might better support the financial risk management industry. Develop a concerted cultural product funding strategy aimed at the tourism sector. Define, in collaboration with business executives and their associations, strategies to develop sector-based networks of enterprises and their subcontractors. 17

19 SOLIDLY ESTABLISHED KEY SECTORS Make use of funding provided by the government and government-owned corporations to strengthen in various industrial sectors the competitive position of Québec companies. Offer firms in the bio-food sector broader access to technological innovation, specialized services, leading-edge information and financing for industrial projects. Enhance the management of risks in the realms of food safety and animal health, especially by means of the traceability of food. Assist farm and aquacultural producers to help them meet challenges stemming from environmental protection and harmonious cohabitation of the territory. Promote private investment in culture and communications through the implementation of a government action plan, including the introduction of the Placements Culture program, intended to support agencies that collect private donations and investment fund managers. Implement the strategy to consolidate the textile, clothing and furniture industries and the regional forest development action plans, in collaboration with businesses in these sectors and workers representatives. Collaborate with the federal government to introduce adaptation measures to offset the effects of exceptional situations that are affecting sectors in transition and safeguard measures, as stipulated in the protocol respecting China s entry into the WTO, in order to enable the industries affected, e.g. the furniture industry, to adopt the necessary restructuring strategies. 18

20 8 ABUNDANT, RENEWABLE ENERGY RESOURCES Québec must maximize economic spinoff from its energy potential and position itself to the best possible advantage on the North American market, while ensuring Quebecers energy security. The Québec advantage in the realm of energy centres primarily on an energy portfolio and production potential in which clean, renewable energy predominates, available energy at competitive prices, internationally recognized know-how, and a solid research and development base in innovation and energy technologies. Targets to be attained Increase by 2015 by 3400 megawatts hydroelectric power generation capacity by investing over $15 billion for this purpose. Increase by 3500 megawatts by 2015 wind power generation capacity by investing over $5 billion for this purpose. Generate by means of energy efficiency measures energy savings of 4.1 TWh of electricity by 2010 and of 79 million m 3 of natural gas by Québec s future energy strategy, which the government will unveil in the coming months, will establish specific objectives and the means the government has adopted to meet the energy challenge facing Québec and contribute to the creation of wealth. This strategy will include specific measures designed to: promote and develop Québec s full energy potential, especially for the benefit of the regions; prioritize the development of clean, renewable energy; contribute to Québec s sustainable development objectives by means of new energy efficiency measures; ensure the security of energy supplies at competitive prices. 19

21 DYNAMIC, INNOVATIVE REGIONS 9 The economic development strategy relies on the strength and potential of each of the regions to ensure their long-term prosperity. We must foster the consolidation of strong urban centres and the development of niches of excellence in each region, accelerate the prosperity of the Communauté métropolitaine de Montréal and the Communauté métropolitaine de Québec, and support the vitality of rural areas. Moreover, it is important to offer special support to certain territories or regions that are more economically vulnerable to enable them to develop their full potential. The Québec advantage from a regional perspective centres primarily on regions in which cities act as important service and employment centres and a well-developed network of universities and colleges throughout the territory. The regions also have natural resources and a growing tourism industry. Various financial tools and measures and programs intended to support private investment and job creation are accessible in all of the regions. Targets to be attained Conclude by 2010 with regional economic partners 35 implementation agreements to ensure the development of niches of excellence pinpointed by the regions. Strengthen regional urban hubs to make them genuine centres of competitiveness that rally business networks and training and innovation around innovative projects. Develop the processing of forest resources by seeking by 2010 $220 million in additional investments in the secondary and tertiary processing of wood products. Broaden mining exploration initiatives by seeking by 2010 $1 billion in investments. Increase Québec s tourism receipts from $9 billion in 2003 to $13 billion in 2010 through a renewed perspective of a tourism industry focused on sustainable development. Enhance the positioning of the Communauté métropolitaine de Montréal and the Communauté métropolitaine de Québec in the world s main economic blocks. 20

22 DYNAMIC, INNOVATIVE REGIONS Mobilize businesspeople by means of a shared regional perspective and offer government participation in the development of niches of excellence in each region that enables the regions to position themselves in North America and the world. Support the development and organization of research and knowledge transfers in regional niches of excellence in order to help consolidate major industrial hubs and redeploy traditional industrial sectors. Implement in the fall of 2005 under the responsibility of the ministère du Développement économique, de l Innovation et de l Exportation a strategy to coordinate government initiatives aimed at the enterprises on which single-industry municipalities depend in order to consolidate and diversify their economies, with priority to be given to those deemed most at risk, by relying mainly on the assistance fund for single-industry municipalities in crisis. Make public in 2006 a territorial development policy elaborated by the ministère des Affaires municipales et des Régions, in collaboration with the government departments concerned, aimed at the integrated development of the regions. Make public by March 2006 a regional economic development intervention strategy focusing, in particular, on the resource regions and territories experiencing major economic problems, elaborated by the ministère du Développement économique, de l Innovation et de l Exportation and the ministère des Finances in collaboration with the government departments concerned. 21

23 DYNAMIC, INNOVATIVE REGIONS Announce, in 2006, a strategy to create wealth through natural resources implemented by the ministère des Ressources naturelles et de la Faune. This strategy will seek to develop energy, mining, forest and wildlife resources and the potential of public lands, in partnership with the regions and the aboriginal communities. The strategy will rely on a new integrated, sustainable management approach covering Quebecers collective patrimony. Pursue the implementation of Québec s Tourism Policy, made public in May 2005, which will help foster the development and diversification of the regions economic structure. Complete the implementation by the ministère de l Agriculture, des Pêcheries et de l Alimentation of the action plan to develop regional and niche products aimed at supporting food processing firms in the development of new market niches. Develop, in partnership with the private sector, modern, high bandwidth telecommunications infrastructure throughout Québec, which is becoming an increasingly decisive factor when businesses decide where to locate. Implement a strategy to promote the consolidate the food service industry and the renovation of heritage buildings. Elaborate and implement regional action plans aimed, in collaboration with the socioeconomic stakeholders affected in the regions, including agencies in the cultural communities, at fostering the regionalization of immigration. 22

24 THE MOBILIZATION OF STAKEHOLDERS IN ECONOMIC DEVELOPMENT It is only through the mobilization of all stakeholders in Québec s economic development that we can achieve the ambitious targets that this economic development strategy proposes. More than ever, Québec s prosperity depends on our ability to achieve a shared perspective of the situation and to agree on the priorities to be emphasized and the key initiatives to be adopted. Québec society has already demonstrated its ability to mobilize. Given the unprecedented challenges that we are facing, we must now achieve even broader collaboration and seek a new synergy. The approach to be undertaken must be structured and transparent and focus on follow-up to the attainment of the objectives pinpointed in the strategy. CONCRETELY FOSTER DIALOGUE The Conseil des partenaires économiques, which assembles representatives of employer associations, labour confederations and the industrial research and retail trade sectors, is a good starting point. This organization allows the stakeholders concerned to examine the key strategic factors in economic development. The government is thus proposing to its partners to enhance the Conseil s role in order to: foster the establishment of a stable, structured forum for dialogue that allows the major stakeholders in economic development to establish effective cooperation in a perspective of sustainable development; elaborate a trend chart based on the targets proposed by the economic development strategy and publicly give an account at regular intervals of the results achieved, while making the necessary adjustments. The government s economic development strategy centres on Québec s current strengths and advantages and is aimed at shaping its future strengths and advantages. It is aimed at all Quebecers, since it pursues as its main objectives growth in their standard of living and the enhancement of their quality of life. This goal calls for the mobilization of all workers, entrepreneurs and social, economic and governmental partners to foster prosperity and wealth creation for all Quebecers. 23

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