The exchange rate of the Canadian dollar is allowed to float in relation to other currencies. Canada’s central bank, the Bank of Canada, sets key interest rates – in practice, independently of the federal government. Canada offers many advantages as a place to do business: – Canada ranks third among OECD high-income countries for the lowest number of procedures, costs and time required to establish a new business. ( Doing Business 202 0, The World Bank Group) – Canada ranks 14th in the world in overall economic competitiveness. ( IMD World Competitiveness Rankings 2022 , IMD World Competitiveness Center) – Canada ranks 14th in the world in the global competitiveness index. ( Global Competitiveness Report 2019, World Economic Forum)
Given its natural resources, skilled labour force, stable political and economic systems and modern capital infrastructure, Canada enjoys solid economic prospects.
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Doing Business in Canada
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