Quebec pursues defense contracts in London
Quebec to Showcase Defense Expertise at DSEI Exhibition in London
Quebec is preparing to travel to the United Kingdom for the Defense and Security Equipment International (DSEI) exhibition, one of the largest events in the defense sector, taking place from September 9 to 12. Over 20 Quebec companies will be accompanied by Bicha Ngo, CEO of Investissement Québec, as part of a mission to showcase local expertise.
The purpose of this mission is to help local businesses position themselves to win defense contracts and become part of the supply chain. According to a survey by Investissement Québec, there are nearly 1200 companies in Quebec working in the defense sector or related fields. Quebec has cutting-edge expertise in aerospace and artificial intelligence, key sectors for defense.
Investissement Québec has revised its investment policy to enable support for projects in the military domain. This new policy is on a case-by-case basis, with each possibility being studied rigorously for its merits and to ensure it aligns with Investissement Québec's values. The search results do not provide specific information about firms from Quebec being accompanied by Investissement Québec at the DSEI exhibition in London or the goals of Bicha Ngo for this event.
Prime Minister of Quebec, Francois Legault, has expressed a desire for Quebec to reap the benefits of Ottawa and EU military contracts. M. Ngo notes that this will allow Investissement Québec to broaden its investments and make interventions in companies that manufacture non-controversial weapons destined for Canada's allied countries.
The DSEI exhibition will attract major buyers such as French and British groups Safran and Babcock. However, the UK has announced that no Israeli government delegation will be invited to participate in the upcoming DSEI global exhibition due to the intensification of its military operation in Gaza.
In other news, the Caisse de dépôt et placement du Québec, a significant investor in Quebec, has been criticized by a UN report for allegedly benefiting from certain investments, including in the American company Lockheed Martin. The Caisse de dépôt et placement du Québec has affirmed it does not support Israel.
Canada has committed to increasing its military spending to 5% of its GDP within 10 years, which would require spending of around CAD 150 billion. The European Commission has presented a plan for investments of EUR 800 billion - around USD 1300 billion - in the defense sector.
Export sales of companies supported by Investissement Québec's export teams have increased from around CAD 1 billion five years ago to nearly CAD 5 billion today. This growth underscores the importance of events like the DSEI exhibition in promoting Quebec's capabilities in the defense sector and fostering international partnerships.
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