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IO expansion could unlock international opportunities

IO expansion could unlock international opportunities

BERLIN — The Ontario government is proposing legislative changes that, if passed, would allow Infrastructure Ontario (IO) to act as a consultant adviser to markets outside of the province, a proposed expansion that could help unlock international business opportunities and potentially create jobs in the construction industry.

Minister of Infrastructure Monte McNaughton made the announcement while speaking at the 2019 Infrastructure Investor Global Summit in Berlin. The new initiative will begin with two pilot projects. If they are successful, the government expects IO will take on new clients in the near future, indicates a government release.

“Infrastructure Ontario is recognized internationally for its expertise in the public procurement and delivery of infrastructure and real estate,” said Ehren Cory, president and CEO of IO, in a statement. “We have hosted delegations from dozens of jurisdictions from around the world looking to learn from our exemplary track record. We look forward to this opportunity to continue to support others as they develop their own markets.”

“Leveraging IO’s skillset, for profit, beyond the province just makes sense,” said McNaughton. “As a stable and thriving market, Ontario is a great place to invest. We are open and ready to conduct business with the world.”

John Beck, executive chairman of Aecon Group, stated the Ontario government should be commended for its initiative to promote the province’s expertise in P3 project delivery.

“This initiative will undoubtedly provide Ontario-based businesses with a competitive edge in key international markets,” he stated.

The Daily Commercial News will have more on this in an upcoming article.

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