"West Coast Maritime Sector"
The maritime sector is a huge asset to the economy of Canada. Especially on the west coast of the country, where the ports of Vancouver and Prince Rupert lie, the maritime sector experiences significant importance. Understandably so, the Canadian government has made investments targeted at providing growth to the above-mentioned realm of trade. But, before diving into the government’s investments made to boost the maritime sector of the west coast, a brief account of the maritime sector itself can aid in painting a better picture of the Canadian government’s methodology and thought-process.
The Various Aspects Of The Maritime Industry
"Aspects Of The Maritime Industry"
- The Recreational Aspect: People of British Columbia have been engaged in recreational activities in the sea for a very long time. From sailing, fishing and power boating to whale watching, traveling on cruise ships and charter boats, the people of the west coast have enjoyed the sea for various recreational purposes.
- Transportation: Passenger, as well as cargo ships and ferries as well as small vessels, are still being used as means of transportation from the ports of Vancouver and Prince Rupert.
- Import-Export of Resources: The commercial transportation opportunities provided by the west coastline of Canada also double up as means to carry out imports and exports of various resources like grains, minerals, metals, forest products and energy resources through the Pacific gateway.
- National Security: The ports situated on the west coastline of Canada are well protected by various security agencies. The Royal Canadian Navy, Western Canada Marine Response Corporation, the Canadian Coast Guard, and other security agencies provide protection from marine threats 24*7.
The maritime industry on the west coast of Canada not only provides employment opportunities to a huge number of Citizens living in British Columbia but also enriches the nation’s position in the international shipping industry. Furthermore, the new income tax regime introduced a few years ago has further strengthened the position of the coast of British Columbia as a competitive center for international sea-trade. Various resources and commodities required by the people of the country also enter the nation owing to the efforts of the Maritime industry of the west coast.
Smaller ports like Port Alberni, Campbell River, Nanaimo, Kitimat and other zones existing close on the coastline provide trade opportunities to the Maritime industry.
Efforts Made By The Canadian Government To Boost The Maritime Sector
"Canadian Government Efforts
On the 2nd of September of the year 2016, the Canadian government announced $2 million to the Vancouver International Maritime Centre as a means to support its functions. The monetary funding was aimed at further strengthening the operations of the maritime sector on the west coast of the country. The primary focus of the investment was to attract international shipping companies to the British Columbia coast and for them to establish new operations over there.
The strategic geographical location offers incentives for international shipping companies to invest in operations on the western coastline of Canada. The VIMC aims at garnering investments worth $18 Million. That translates to employment opportunities in the form of about 200 direct as well as indirect jobs in the Maritime sector.
The announcement of the investment was made by Carla Qualtrough on behalf of Navdeep Bains. The Canadian Government’s focus on the development of the Maritime sector on the west coastline of the country is an attempt to create employment opportunities, strengthening the country economy by increasing the contribution of the maritime sector to the GDP of the country.
All in all, with the above-mentioned investment of $2 Million, the Canadian government aims at inculcating sustainable and inclusive growth in the country.