A joint report by the Canadian Chamber of Commerce and PwC Canada highlights critical gaps in five key industries that prevent the nation from achieving global competitiveness. The findings suggest that while Canada possesses significant natural and intellectual resources,it lacks the infrastructure and funding to convert these assets into high-value exports.
The AI Talent Drain and the Quantum Computing Pivot
Canada has historically functioned as a global leader in artificial intelligence research, yet the nation is currently struggling to retain the fruits of that expertise. According to the report released by the Canadian Chamber of Commerce and PwC Canada , Canadian companies frequently lack the capital necessary to transition from the startup phase to large-scale commercialization.
The consequence of this funding gap is a significant loss of human capital. The report notes that Canada has effectively become a net exporter of AI talent,with many prominent industry figures being Canadian-born or trained but operating outside the country. However, the authors suggest that Canada has a strategic opportunity to avoid repeating this pattern within the emerging quantum computing sector if the right supports are implemented.
The 15-Year Mining Lag and US Energy Monoculture
While Canada possesses extraordinary geological wealth, the timeline to extract and utilize these resources remains a major hurdle. The report indicates that significant new mining production can take between 10 and 15 years to materialize, and much of the refining process for these minerals currently takes place in China rather than domestically.
The energy sector faces a similar issue of geographic dependency. As reported by the findings, approximately 85 per cent of Canada's energy exports are currently directed to a single customer: the United States.. To reach Asian markets, the report suggests Canada must expand its export infrastructure, noting that the country currently operates only one large-scale LNG export terminal on the West Coast, unlike the more diversified commercial relationships held by Australia and the U.S.
Avoiding the Commodity Trap in Agri-Food and Defence
In both the agri-food and defence sectors, Canada faces the risk of remaining a secondary player in the global supply chain. Murad Al-Katib, president and CEO of AGT Foods, told the report's authors that the nation is currently stuck in a "commodity mindset," primarily shipping raw bulk goods rather than the higher-value processed ingredients and finished products that command better margins.
The defence sector faces a different structural threat. Eliot Pence, founder and CEO of Dominion Dynamics, warned that without changes to how Ottawa procures equipment, Canadian firms risk being relegated to mere component manufacturers for foreign systems. This would prevent domestic companies from owning core technologies or successfully selling finished platforms on the international market, a capability Pence notes is present in every other NATO country except Canada.
Will the Build(ing) Canada Strong Act meet its one-year goal?
A central theme across all five sectors is the paralyzing effect of slow permitting processes. While the Build(ing) Canada Strong Act has introduced a commitment to a one-year review and approval process, it remains to be seen if this will be sufficient to satisfy industry demands.. One business leader interviewed for the report warned that if Canada is still holding investment summits in 2030 instead of actually constructing northern roads and infrastructure, the window of opportunity will have closed.
Several critical questions remain unanswered by the report. While the authors mention that work is underway to improve the situation regarding critical minerals, they do not specify what those measures are or how they will be implemented. Furthermore, the report does not detail how the government intends to resolve the specific rail and port bottlenecks that currently hinder the agri-food sector, leaving the path to high-value exports largely theoretical.
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