We suggest that the government take two specific actions to attract more FDI of the kind that will position us to compete on the global stage: 1. Create an FDI agency to strategically increase inward FDI, and to attract anchor companies that will contribute to existing and new Canadian clusters of excellence. [...] In 2013, foreign-controlled multinational enterprises in Canada were responsible for 50 percent of all merchandise exports and 37 percent of business expenditures in research and development.3 The increased competition and trade from foreign firms reduces prices and improves the purchasing power of Canadians. [...] It can also broaden the sources of its FDI to more countries, relying less on flows from the United States and more on faster- growing countries in Europe and Asia. [...] The NAFTA and 4 Bringing foreign investment to Canada CETA economies combined account for nearly $37 trillion (US) in GDP, or one-half of the world’s output of goods and services. [...] Total business tax costs in Canada are by far the lowest in the G-7, and 46 percent lower than those in the United States.3 Thanks to our tremendous endowments of fresh water, Canada also has low electricity costs relative to most other countries.