Ontario's To Cut Red Tape to Make Ontario a Top Destination for Global Investments

Dec 13, 2018

Ontario is cutting red tape to make it easier for international companies to invest, do business and create jobs in the province.

Premier Doug Ford spoke at the 2018 Toronto Global Forum, an event organized by the International Economic Forum of the Americas.

"I want to send a clear message to the world that here in Ontario, we are ready to do business once again," said Ford. "For too long, job creators in Ontario have been burdened by inefficient, excessive and inflexible regulations. By cutting red tape, we're telling international companies and partners that doing business with Ontario is the right move."

Premier Ford discussed the action the government is taking to lighten regulatory burdens to cut costs to businesses, streamline processes, reduce barriers to investment and harmonize regulatory requirements across municipal, provincial and federal levels. These actions will make it easier for companies from around the world to invest, grow and create jobs in Ontario.

"We promised to make it easier to do business in Ontario. We're attracting companies and jobs to the province by removing outdated, duplicated and unnecessarily complicated regulations that weigh them down," said Ford. "By cutting red tape, Ontario will become a top global destination for international trade and business."

Source : Government of Canada

Video: Finding a Balance of Innovation and Regulation - Dr. Peter Facchini

Regulations help markets and industry exist on level playing fields, keeping consumers safe and innovation from going too far. However, incredibly strict regulations can stunt innovation and cause entire industries to wither away. Dr. Peter James Facchini brings his perspective on how existing regulations have slowed the advancement of medical developments within Canada. Given the international concern of opium poppy’s illicit potential, Health Canada must abide by this global policy. But with modern technology pushing the development of many pharmaceuticals to being grown via fermentation, is it time to reconsider the rules?

Dr. Peter James Facchini leads research into the metabolic biochemistry in opium poppy at the University of Calgary. For more than 30 years, his work has contributed to the increased availability of benzylisoquinoline alkaloid biosynthetic genes to assist in the creation of morphine for pharmaceutical use. Dr. Facchini completed his B.Sc. and Ph.D. in Biological Sciences at the University of Toronto before completing Postdoctoral Fellowships in Biochemistry at the University of Kentucky in 1992 & Université de Montréal in 1995.