Merger of the SGF and Investissement Québec: A wise choice if it allows to better meet the needs of business

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Added on 15 September 2010 in Press releases

Press Release

Merger of the SGF and Investissement Québec:
A wise choice if it allows to better meet the needs of business

Montréal, September 15, 2010 – The Board of Trade of Metropolitan Montreal welcomes the government’s intention to introduce a bill in the National Assembly for the merger of the Société générale de financement du Québec (SGF) and Investissement Québec into a new entity.

“The Board of Trade insists on the necessity of using this merger to address the lack of financing for certain types of businesses, and to offer improved support for innovative companies. The system put into place to support the funding of businesses must better meet the needs of Quebec companies at the dawn of a still fragile recovery, and when opportunities of attracting foreign investors are on the rise. In addition, in a streamlined approach to government spending, it makes sense and is even advisable to merge entities with similar objectives,” declared Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal.

“This decision is likely to save the government a significant amount of money. It paves the way for larger-scale rationalization of activities to support economic development, and should encourage greater accountability when it comes to results and reaching goals,” added Michel Leblanc.

“The SGF and Investissement Québec have made an outstanding contribution to Quebec’s economic development and prosperity. Combining their strengths will invest us with a tool that is even more powerful and better adapted to new realities, so that we can meet the economic challenges of tomorrow,” concluded Michel Leblanc.

The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is Quebec's leading private economic development organization.

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Source:
Sylvie Paquette
Coordinator, Media Relations
Board of Trade of Metropolitan Montreal
Phone: 514 871-4000, extension 4015
sylvie.paquette@ccmm.qc.ca