Holes in Value Chains Are Holding Back Five Sectors That Have the Potential to Reshape Canada's Economy for the Better

PwC-Canadian Chamber report says Canada is uniquely positioned to play a far larger role in the global economy if it can move from potential to execution

Ottawa, Ontario–(Newsfile Corp. – September 22, 2026) – In advancing economic resilience, we are only as strong as our weakest links. A major new report from the Canadian Chamber of Commerce and PwC Canada, Beyond Potential: Turning Canada’s advantages into growth and a better life for all, examines five critical sectors and what competitiveness gaps and global opportunities look like for each. The common story is a similar challenge across our areas of greatest strength – artificial intelligence and quantum computing, mining and critical minerals, energy, defence, and agri-food – we still are missing key pieces in each value chain that would accelerate our economic course toward global success and competitiveness.

Turning global demand for what Canada has to offer into sustained success will only be possible if we build up the companies, infrastructure, processing capacity and commercialization pathways around those advantages, according to the report. Across the five sectors, the report finds that Canada has many starting advantages but is missing out on a secure and lasting Canadian value proposition because critical links in the value chain remain underdeveloped. The missing pieces vary by sector—from growth-stage financing and commercialization to permitting, infrastructure, processing capacity, procurement and specialized talent. Closing them would help Canadian businesses scale, hire and put down deeper roots for long-term economic gain. The report draws on PwC research and economic analysis alongside conversations with 20 Canadian CEOs and business leaders.

“Competitiveness determines whether the next company gets built here, whether the next dollar of investment comes here and whether the next generation can find opportunity here,” said Candace Laing, President and CEO of the Canadian Chamber of Commerce. “Our report identifies missing links across five sectors that will unleash our potential. We know Canada has enormous advantages along with a common problem – we can be slow and we don’t follow through enough to turn those advantages into results. Building out these incomplete value chains will mean a better life for families, workers and communities. It’s time to be bold because, thankfully, closing these gaps is well within our control.”

Key findings:

• In critical minerals, Canada has extraordinary geological resources, but relatively few projects are positioned to move quickly. Significant new production can take 10 to 15 years, and much of the processing capacity needed to turn minerals into strategic inputs exists elsewhere. Work is underway to improve this, but the transition needs to be durable and trusted to matter.
• Canada was an early global leader in artificial intelligence research and talent, but continues to struggle to turn that head start into globally scaled Canadian companies. The report points to gaps in growth-stage financing and commercialization, while identifying quantum technology as another major opportunity to convert Canadian research leadership into commercial leadership.
• Canada is one of the world’s major energy producers, yet approximately 85% of Canadian energy exports go to the United States, underscoring the importance of infrastructure and access to additional markets. That is one of the key elements that will change our north-south equation, placing us closer to being a real energy superpower.
• Canada is embarking on its largest defence spending expansion in decades, but without procurement reform and deliberate development of domestic capabilities, the report warns that higher spending could accelerate foreign purchases while leaving Canadian companies as subcontractors rather than owners of system-level intellectual property and export opportunities.
• And, in agri-food, Canada is a global agricultural powerhouse whose next opportunity lies in capturing more value through processing, ingredients, technology and reliable infrastructure connecting Canadian production with customers around the world. If we fall short of that, our rhetoric to date won’t match the reality of what we can deliver.

“Canada holds one of the strongest hands in the global economy. In energy, critical minerals, AI, defence, agri-food, and most importantly, trust, the world wants what we have,” said Anita McOuat, National Managing Partner, Clients and Industries, PwC Canada. “The opportunity now is to capture more of that value here at home. By creating better conditions for businesses to invest, innovate and scale in Canada, we can turn our advantages into lasting economic growth.”

All of this depends on the missing elements being secured in each sector. An AI breakthrough needs capital, seed customers and a path to scale. A mineral deposit needs local infrastructure and processing capacity. Defence spending needs a Canadian ecosystem behind it. Agri-food and energy need new processing infrastructure to be built rather than in a plan that starts after 2030. Government and business should partner on tackling this like a checklist. If we build those next stages here, one investment can create the conditions for another.

Canada begins with significant advantages that are well-known but should not be taken for granted. Its natural resources, energy and agricultural capacity are equally matched by strong institutions, world-class research and one of the world’s most highly educated workforces. Canadian companies also operate from a country with preferential trade access to 51 countries and a diverse, multilingual population with connections to markets around the world.

None of these have been enough to drive investment to the sustained levels needed. According to the report, it will require faster regulatory and permitting processes, greater access to growth and project capital, expanded infrastructure, specialized skills, stronger commercialization pathways and better coordination across governments and industry.

This nationwide mission toward resilience has united Canada around the idea that our economic decisions are part of the fabric of our identity. As the forward to the report outlines in words from Candace Laing, a “message came through consistently from business leaders: for them, Canada’s competitiveness is about more than economic growth for one company, or even for our country as whole. It is about building the resilience, agility and long-term prosperity needed to offer a better life to all Canadians.” … The words “They desire a better country” are engraved on the insignia of the Order of Canada. They capture something fundamental about this country: our belief that Canada can always become more than it is today.”

To read the full report: Beyond Potential: Turning Canada’s Advantages into Growth and a Better Life for All.

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Additional Quotes From The Report:

• “Canada has what the world needs and has it in spades. To really be able to hit the gas and go, there needs to be a singular focus on building out infrastructure and less bureaucracy and red tape.” — Sarah Fedorchuk, Head of Public Affairs and Government Relations, The Mosaic Company
• “We have the core competencies to compete globally. We have the underlying fundamentals. My concern is can we move fast enough to react to the market competition.” — François Poirier, President and CEO, TC Energy
• “We are so stuck in the commodity mindset that we can’t see a multimodal strategy… It’s not moving bulk commodities to other nations. It’s about moving value-added products, ingredients or semi-refined products, and not just commodities.” — Murad Al-Katib, President and CEO, AGT Foods
• “If you don’t engage Canadian head offices and cause Canadian companies to scale, you’re not going to get the intellectual property in the country trapped and expanding.” — Mike Greenley, CEO, MDA Space
• “Government funding alone isn’t enough. Government also has a role to play as an early customer. Their participation as a customer bolsters adoption and volumes which facilitates scale and commercial viability.” — Greg Francis, CFO, Hypertec Group
• “There’s been a lot of focus on buying Canadian and I believe we should be just as ambitious about selling Canadian innovation to the world. Success will be helping build globally competitive companies that can scale and win on the world stage.” — Matthew Milton, President, Microsoft Canada

About the Canadian Chamber of Commerce — The Future of Business Success

The Canadian Chamber of Commerce is Canada’s largest and most activated business network — representing over 400 chambers of commerce and boards of trade and more than 200,000 business of all sizes, from all sectors of the economy and from every part of the country — working to create the conditions for our collective success. The Canadian Chamber of Commerce is the undisputed champion and catalyst for the future of business success. From working with government on economy-friendly policy to providing services that inform commerce and enable trade, we give each of our members more of what they need to succeed: insight into markets, competitors and trends, influence over the decisions and policies that drive business success, and impact on business and economic performance.

About PwC Canada
At PwC Canada, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 6,500 partners and staff in offices across the country. Across audit and assurance, tax and legal, deals and consulting, we help build, accelerate and sustain momentum. 

PwC refers to the Canadian member firm, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see https://www.pwc.com/structure for further details. Find out more by visiting us at: http://www.pwc.com/ca.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/315407