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Press Room
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Société générale de financement, partnering in sustainable economic development for Québec
Montréal, February 14, 2006 - Pierre Shedleur, Chairman of the Board, President and General Manager of Société générale de financement du Québec (SGF), outlined the organization’s five-year plan during a speech today before the French Chamber of Commerce in Canada.
SGF’s development plan has received the requisite approval of the Government of Québec. It is built around the following three strategic orientations:
- Contribute to the implementation of major integrated projects with partners from outside Québec;
- Contribute to the consolidation and expansion of Québec businesses;
- Contribute to accelerated growth for high-performance companies in Québec.
In his address to more than 200 Canadian and European businesspeople, Mr. Shedleur referred more specifically to SGF’s primary strategic orientation: the importance of attracting investors to Québec for major industrial projects. “Over the years, SGF has build up solid expertise as a liaison for implementation of foreign businesses in Québec, as well as proven know-how in the area of international negotiations,” he explained.
The SGF Chairman also reminded his audience of the many advantages that make Québec a top choice among investors. “First and foremost, Québec is a modern economy marked by diversity and openness to the world,” Mr. Shedleur said. “The reputation of our qualified, stable workforce is known far and wide. On every continent, you will find hydroelectric dams and aluminum smelters that were built with the contributions of Québec engineers. I might mention also that Montréal is home to the largest number of engineers in Canada, with more than 60% of the country’s engineering consulting firms based here.”
These economic advantages, along with its social and democratic stability, place Québec in an advantageous competitive position on the world stage, as Mr. Shedleur learned during the recent World Economic Forum in Davos. “We got the sense that the world is continuing to evolve and that companies increasingly are looking to set up shop where labour conditions are stable and the rules of the business game, clearly defined. We no longer look exclusively at going into regions where the cost of labour is as low as possible,” Mr. Shedleur noted.
By relying in this way on Québec’s strengths and on a solid development plan, SGF is confident of success in its mission to contribute to sustainable economic development in Québec. “In doing so we will be able generate a ripple effect that will benefit not only businesses but all of Québec as we continue on the road to prosperity,” Mr. Shedleur explained.
Mr. Shedleur further explained that SGF will be building on the quality of projects and on spinoffs that benefit projects’ respective industrial clusters and the regions in which they are located. “The prime focus will continue to be on profitability, along with adoption of the best practices possible. In this way we will be best able to contribute to sustainable economic development for Québec,” he concluded.
The Société générale de financement du Québec (SGF) is an industrial and financial holding company. Its mission is to carry out economic development projects, especially in the industrial sector, in cooperation with partners and in accordance with accepted requirements for profitability and the Government of Québec’s economic development policy.
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Source : Marie-Claude Lemieux
Senior Advisor, Communications
Société générale de financement du Québec
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