مرحبا بكم في نيو برونزويك

Just listened to the 60 Minutes podcast about the growth of Dubai. I have been following this trend for a couple of years. I think New Brunswick needs to figure this out. Several countries in the Arabian Peninsula are investing billions outside of the region (the so-called “Dubai Inc.” factor) to diversify themselves. Why not New Brunswick? Why do we have to be last in on any and all trends?

If I was in Freddy Beach, I would get on the next plane to Dubai and try and figure out what the opportunities could be. Investing in our energy infrastructure? Investing in the Atlantic Gateway? Major tourism projects? Who knows?

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0 Responses to مرحبا بكم في نيو برونزويك

  1. Dan F says:

    It’ll end up with a few getting massively rich while the rest slump into poverty. However, unlike kings of old, these new rulers are vying to run the world.

    If New Brunswickers cared at all about their economy, they’d make sure these global behemoths don’t take over – our local banks & monopolies are like a paradise compared to the type of capitalism being forged over in the middle east right now.

    Local isn’t only better for fruits and vegetables – local banks and businesses (even Irving) are a fair shade kinder than those controlled from afar.

    Unfortunately, that doesn’t let them make as much profit… Whose idea was free trade again?

  2. David Campbell says:

    I don’t know why but so many people equate global investment with some apocalyptic. Atlantica will gut employment standards and turn this region into shanty towns. Attracting Dubai investment will make us ‘slump into poverty’. Global behemoths taking over. I don’t get it. The economy has globalized. We resisted and look at us now. We are poorest economy in North America. If you pulled the Equalization rug out from under this province, the government couldn’t afford to provide the level of health care found in some third world economies. Cripes. I like the locavore concept. I really do. But economies live on investment and that investment is not here – it actually may have once been here – but now it is out there and we need to go get it. This is not about rape and pillage, this is about finding good corporate partners to help grow the economy. The Dubai-ians want to park billions in safe economies outside their borders – we should push this region as the next growth area in North America and try to attract some investment. You can sit back and judge their culture and society but while you do they are investing $600 million in South Carolina, hundreds of millions in Alabama, Florida, New York, California and Western Canada. Europe is also a magnet for this type of investment. But poor old New Brunswick, our guys stand on soap boxes and preach about head scarves.

  3. mikel says:

    “atlantica will gut employment standards” is widely believed because the people behind Atlantica have SAID that it will. Crowley now works closely advising Harper, and this is the guy who said they don’t want training for truckers-they want to bring mexicans in on work visas. Ask mexican fruit growers in the southern US how much fun THAT is.

    Global investment HAS brought apocalyptic conditions, if you don’t believe that, go visit Russia sometime. Go visit Jamaica.

    It also isn’t true that economies operate on ‘investment’. That’s just crazy. Countries have resources, both tangible and intangible and they can sell them (or in our case give them away).

    Nobody operates on investment, heavens man, what do you think DEBT IS! Don’t you remember the nineties when the business community was up in arms that the world would end because of deficit spending and national debt? Investment is money owed.

    There is TONS of investment in New Brunswick. There are pipelines heading every which way, there are gas terminals, refineries on the way. The province has six billion dollars that sits in New York they have so much money.

    There is potash, mining exploration going on all over and on and on. There is investment in health care and education (of a certain kind).

    And again, it was a big interests that took over when NB joined canada,and recently we’ve seen new timber companies and molsons. And where is all the magic wealth?

    However, the reverse is also true, by being cut off Cuba is a shanty town. The two posters above are talking about two different scenario’s of the same thing-namely the definition of ‘partnership’. Dan f says not to ‘let them take over’, and David has never said THAT. A ‘partnership is something different, but again, we’re yet to see a real partnership.

    Graham talks about nuclear power as a ‘partnership’ with ‘team candu’ and the atomic energy commission. Well, you can bet that that partnership means New Brunswickers will be paying for nuclear power if the market suddenly gets flooded with cheap power-thats the nature of most of these ‘partnerships’

    But I’d disagree that Irving is a ‘shade kinder’ than ‘folks from away’. There really is no evidence of that. They contribute almost nothing in corporate income tax, unlike the corporate classes of other provinces, and the province ponies up dough and legislation whenever they cry boo. That’s far from ‘kind’.

    But while things can get better, things can also get worse. Don’t think there are wonderful magical corporations out there looking philanthropically to shovel money into New brunswick for nothing. That’s not the nature of capitalism. And so long as the gap between rich and poor continues to grow, look for things to get worse, not better.

    Of course that doesn’t mean the province can’t find a deal or two, thats something else entirely. But again, where is the legislation to do that. Waiting and hoping that some animation grads will decide to ‘stay home’ while growing companies is a pretty poor idea of public policy, but that essentially is how the government is proceeding-and will continue to do so until people start ‘talking louder’.

  4. Anonymous says:

    You may be interested in knowing UNB has an office in Dubai and there are a number of students attending in Fredericton. Nice start of a relationship that we may be able to build on.

    Unfortunately graduating engineering students are returning to work in Dubai because “NB does not have job opportunities”.

    While some think it is evil, to grow our population, grow our economy and support basic infrastructure (education, health care, highways) we actually do have to create some opportunities here by attracting business to expand or relocate and encouraging existing business to expand.


  5. Anonymous says:

    After a quick review of recent posts regarding economic development in NB, I have learned that:

    A) Existing successful businesses such as Irving are profit hungary (shame, shame), government- controlling, environment-killing opportunists who need to be stopped

    B) Expanding or relocating businesses should be ignored since they are greedy hand-out seekers

    C) FDI is giving up control and bad for NB (not sure if we would accept foreign donations as we do with transfer payments)

    This leaves a few options:
    1) Live off the land and pray that successful economies will continue to be charitable towards NB so we can ocasionally see a doctor or attend a school

    2) Hope and pray that someone will magically emerge from a university and actually spin out a business that is successful; but not too successful because we would not want another profit seeking Irving, McCain or Ganong

    3) Sit back and die a slow death (and be prepared to yell loud as we go down)

    Frankly, none of these options appeal to me. We need to be seeking,and evaluating opportunities (internal and external) and executing effective strategies on the promising ones. Despite the naysayers, I think NB can compete and succeed.

  6. David Campbell says:

    Actually, I like the UNB angle. I think that it should be a good conduit for skilled immigration. It should be used to build business ties and solid linkages. I hope UNB and BNB have a joint strategy for that market.

  7. David Campbell says:

    China Investment Corp. wooed by British PM

    Print Edition 19/01/08 Page B7
    Globe & Mail

    China Investment Corp., the nation’s huge sovereign wealth fund seen as a tool to project Beijing’s economic clout, was invited yesterday by Britain’s Prime Minister to set up its first overseas office. Gordon Brown extended the welcome on his maiden visit to China as U.K. government leader, in sharp contrast to a more guarded response in the U.S. and other nations to the rise of sovereign wealth funds. ”We want Britain to benefit from the $200-billion of investment available through the Chinese Investment Corp.,” he told a gathering of British and Chinese business people in Beijing.

  8. mikel says:

    Again, posters must be new here because opportunities have been posted here all over the place. But again, they involve partnerships and brains, and certainly not the legislation we’ve seen so far. And again, none of this is ‘despite’ anybody-both your views and mine, and David’s are incidental. We are not picking strategies or even lobbying.

    The BAD part of that is that economic development becomes like a religion and we have people cheering on ANY change because they think, for some reason, that change itself will only be positive-again, go ask a russian if that is true. If you think times are tough in NB, try living in the soviet union right now where one in three people in URBAN areas has to grow their own food.

    Not only are there no jobs, despite lots of ‘investment’, housing is far worse than it ever was under communism. Women who once were scientists are now part of the porn industry or prostitutes.

    That’s ‘investment’.

    However, again, people have brains that they can use. Just saying ” I believe” is a line that belongs in church, not in politics, certainly not in economic development.

    So lets go back again to the idea that I’ve been posting about-a New Brunswick television station. Yes, I know, so sorry, but it doesn’t involve huge influxes of foreign cash. It costs some money, but not that much, TVOntario gets by on 50 million a year, and considering that NB is about one tenth the size, thats 5 million. And as I’ve said before, by using schools, the internet, youtube, etc., that lowers the cost far more. Flash software is pretty cheap, a video camera is pretty cheap.

    The rest is ‘imagination’ which people have plenty of. You’ve got hundreds of thousands of content providers, just go look at facebook and look what people are doing. Imagine that transferred to an industry level.

    And think of the markets. NB businesses have been tied to Irvings monopoly for years, this would give a whole new access.

    Not only that but of course the internet is international, that means all the ‘cultural products’ created can be shown worldwide, and picked up by broadcasters turning into new businesses. That’s how ‘acadieman’ did it, that’s how ‘chilly beach’ did it- show that opened up animation to Sudbury, which now has the fifth largest film festival in the country.

    It also lets local companies compete globally-every expatriate New Brunswicker is a customer, and of course in our ‘new life’ we all have friends who are potential customers as well. I’ve turned on more ontarians to pumphouse beer than, well, no good analogy there so I’ll just say ‘a lot’. And all so that they can stop shipping to ontario which once again has people saying “heres a market, and a poor province, why in heavens name aren’t they expanding..do they WANT to fail?”

    Not only that, but talking about David’s pet proposition, foreign investment, well, thats what local industry DOES. Ubisoft doesn’t set up a shop in NB because, well, why WOULD it?? Here in Waterloo we have a big Google office, all because two guys made a product Google liked so Google bought it and that ‘partnership’ keeps a new office open.

    That’s how foreign investment WORKS. You guys all talk like so long as poliicians SCREAM loud enough that international investors will say “oh yeah, what about New Brunswick..how did we miss that!”

    But as for other alternatives, there are plenty of others. Namely, stop giving away resources. The province is very likely about to cash in the forests for a song, with some energy rebates to boot. Potash has already been given away for some short term jobs, and the government is just hoping to god that mining will pick up.

    Investment comes to those who work for it, and thats legislation. It’ll be interesting in the spring to see what this big ‘investment trip’ to Toronto will bring about. Sort of like all those ‘team canada’ trade trips where they say ‘oh we got all kinds of contracts’ and then you never hear about them again.

    So again, its the defeatist attitude that says ‘maybe somewhere out there some guys with money will come in and save us’. What exactly is the difference between that and equalization?

  9. Anonymous says:

    Mikel, I don’t know where you get your information about Russia, but I think that you should visit the country before giving any opinion about it. I have been there several times — the last time this summer — and can tell you with 100% of confidence that your comments are completely out of touch with reality.