Canada's Nation-Building Moment: Infrastructure, Energy, and Investment Opportunity

Amid shifting global trade dynamics, Canada is charting a new course toward economic self-reliance. In response to tariff tensions and evolving energy needs, Prime Minister Mark Carney’s government has unveiled an ambitious nation-building plan centered on infrastructure, innovation, and strengthening its position as an energy exporter. Together, these projects signal a potential turning point for Canada’s economy and one that could enhance supply chains, mobilize private investment, and reinforce the country’s role as a reliable energy supplier to global markets.

President Trump fired the opening salvo of an international trade war with widespread international tariffs on Liberation Day, envisaged to increase U.S. tax revenues, encourage consumers to buy more American-origin goods and boost investment in the U.S.

As part of its response, Canada’s government has used this opportunity to work on the removal of interprovincial trade barriers and unveil key infrastructure projects of national interest as part of “Nation Building” efforts.

“With the first in a series of new projects, we will build big, build now, and build Canada strong,” Prime Minister Carney said in a statement.

The One Canadian Economy initiative’s intention is to remove internal trade barriers and advance major nation-building projects that seek to maximize Canada’s economic potential.

This initiative includes the Building Canada Act which will get infrastructure projects of national interest built by focusing on a small number of executable projects and streamlining the federal reviews process to green-light these projects, led by the Major Projects Office.

Ahead of November 2025’s budget, the Prime Minister pledged “generational investments” and stated a goal of generating $300 billion more in trade from non-U.S. exports.

Currently, five “nation-building” projects have been announced, representing investments of more than $60 billion in the economy with the creation of thousands of jobs:

LNG Canada Phase 2, Kitimat, British Columbia

The expansion will double LNG Canada’s output, making it the world’s second-largest facility. It’s set to attract major private investment, support local jobs, and strengthen Canada’s role in providing secure, low-carbon energy to Asian and European partners.

Darlington New Nuclear Project, Bowmanville, Ontario

Canada’s first small modular reactor will position the country as a leader in next-generation nuclear technology. The project supports 3,700 jobs annually, drives $500 million into Ontario’s supply chain, and will power 300,000 homes with clean, reliable energy.

Contrecœur Terminal Container Project, Contrecœur, Québec

A 60% expansion of the Port of Montréal will boost Eastern Canada’s trade capacity, strengthen supply chains, and diversify routes. The project is expected to generate thousands of jobs and add $140 million annually to the economy.

McIlvenna Bay Foran Copper Mine Project, Saskatchewan

Partnering with the Peter Ballantyne Cree Nation, this net-zero copper and zinc project will supply critical minerals for clean energy and advanced manufacturing. It’s expected to create 400 jobs and strengthen Canada’s role in global mineral supply chains.

Red Chris Mine Expansion, Northwest British Columbia

This expansion will extend the mine’s life by over a decade, boost national copper output by 15%, and cut emissions by 70%. In partnership with the Tahltan Nation, it supports reconciliation while reinforcing Canada’s position in critical minerals.

Another potential project that the Major Projects office identified as potentially transformative for Canada is Nova Scotia’s Wind West Atlantic Energy project, budgeted at $60 billion. This project has the goal of developing over 60 gigawatts of offshore wind energy from Atlantic Canada with a goal of supplying Eastern and Atlantic Canada with renewable electricity and exploring electricity exports into the United States.

These are just the initial nation-building projects that have been identified. In the months ahead, more projects may be considered for fast-tracked approvals at the same time as Canada continues negotiations on new trade deals with the U.S. and other global partners.

The importance of the energy sector in Canada’s economy cannot be overlooked: from oil and natural gas in the Prairies and Atlantic Coast, potash and uranium mines of Saskatchewan and precious and other industrial metals deposits in Quebec and Northern Ontario. Canada is a commodities powerhouse and the energy sector remains central to Canada’s economic identity.

The country is the world’s fourth-largest oil producer, generating 6 million barrels per day and holds 11% of global reserves. Beyond oil, Canada’s energy landscape spans LNG, uranium, hydroelectric power and nuclear energy.

Canada’s oil and gas industry alone contributes more than 3% to GDP, employs over 300,000 people, and represents nearly 16% of the companies listed on the S&P/TSX Composite Index by market capitalization.

As infrastructure projects expand export capacity, the energy sector is poised to lead the next growth cycle—supported by policy momentum, capital inflows, and global demand for secure resources.

For investors looking to align with this national renewal, energy-themed exchange-traded funds (ETFs) offer a convenient and diversified entry point. By holding a broad mix of Canadian oil, gas, LNG, uranium, and clean-energy companies, ETFs provide targeted exposure to a sector central to Canada’s economic future.

As new projects gain momentum, energy-focused ETFs may allow investors to participate efficiently in Canada’s next era of nation-building—an economy powered by innovation, resilience, and resource strength.

Global X offers the following ETFs which could benefit from major Canada-wide infrastructure projects:

Designed to provide a consistent monthly income, with an opportunity for growth, the Global X Equal Weight Canadian Oil & Gas Index ETF (NRGY)  provides direct exposure to some of the largest and most liquid Canadian companies in the oil and gas industry.

The Global X Equal Weight Canadian Pipelines Index ETF (PPLN) is the first Canadian-listed ETF exclusively focused on midstream Canadian oil and gas companies. Pipelines typically exhibit lower volatility compared to energy production companies due to their locked-in pricing for transporting energy products, despite being influenced by energy prices.

The Global X Equal Weight Canadian Utilities Index ETF (UTIL) provides investors with exposure to the companies operating Canada’s energy infrastructure. It also offers investors the potential for consistent monthly income from high dividend-paying Canadian utility companies.

The global demand for critical minerals is also a potential opportunity for Canada, as the nation hosts mineral resources used in much of today’s technology. As energy security and electrification become prominent themes in the economy, the supply and demand pressure for the raw materials necessary to create and maintain clean-energy technologies, semiconductors, and other innovations depend on critical minerals.

Canada is the world’s second-largest producer of uranium and home to the world’s second-largest uranium company by market capitalization: Cameco. For investors looking to gain exposure to one of Canada’s critical minerals, the following ETF may be worth consideration:

In a single trade, the Global X Uranium Index ETF (HURA) delivers efficient access to a globally diversified basket of companies involved in the uranium industry, with up to 25% of the portfolio providing direct exposure to the price of uranium.

Canada’s nation-building drive marks more than infrastructure investment—it represents a strategic renewal of the country’s economic engine. For investors, energy remains the vital link between domestic growth and global opportunity, and ETFs offer an efficient, diversified way to participate in Canada’s resurgence as a sustainable energy leader.

DISCLAIMERS

Commissions, management fees, and expenses all may be associated with an investment in products (the “Global X Funds”) managed by Global X Investments Canada Inc. The Global X Funds are not guaranteed, their values change frequently and past performance may not be repeated.  Certain Global X Funds may have exposure to leveraged investment techniques that magnify gains and losses which may result in greater volatility in value and could be subject to aggressive investment risk and price volatility risk. Such risks are described in the prospectus. The prospectus contains important detailed information about the Global X Funds. Please read the relevant prospectus before investing.

Certain statements may constitute a forward-looking statement, including those identified by the expression “expect” and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise, unless required by applicable law.

This communication is intended for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to purchase investment products (the “Global X Funds”) managed by Global X Investments Canada Inc. and is not, and should not be construed as, investment, tax, legal or accounting advice, and should not be relied upon in that regard. Individuals should seek the advice of professionals, as appropriate, regarding any particular investment. Investors should consult their professional advisors prior to implementing any changes to their investment strategies. These investments may not be suitable to the circumstances of an investor. 

All comments, opinions and views expressed are generally based on information available as of the date of publication and should not be considered as advice to purchase or to sell mentioned securities. Before making any investment decision, please consult your investment advisor or advisors. 

For more information on Global X Investments Canada Inc. and its suite of ETFs, visit www.GlobalX.ca.

Global X Investments Canada Inc. (“Global X”) is a wholly owned subsidiary of Mirae Asset Global Investments Co., Ltd. (“Mirae Asset”), the Korea-based asset management entity of Mirae Asset Financial Group.  Global X is a corporation existing under the laws of Canada and is the manager, investment manager and trustee of the Global X Funds. 

© 2025 Global X Investments Canada Inc. All Rights Reserved.

Published October 23, 2025.