In this opinion column, Jesse Kline argues that Prime Minister Mark Carney's efforts to attract major foreign investment are being undermined by Canada's slow regulatory and project approval system.

The article focuses on Carney's recent trip to Saudi Arabia, where he signed agreements aimed at strengthening economic, trade and energy co-operation while seeking investment for Canadian infrastructure and resource projects.

Kline contrasts these efforts with Carney's earlier announcement that the United Arab Emirates had committed up to $70 billion in investments following a previous visit.

Citing reporting from the Financial Times, the author says UAE officials who approached Canada's Major Projects Office were informed that there were no investment-ready projects because proposals remained tied up in regulatory processes.

The column argues this reflects a failure to deliver on promises to accelerate nation-building projects, noting that none of the 18 projects currently under review are reportedly ready to receive investment despite the office having operated for nearly a year.

Kline also points to an unfinalized $1-billion critical minerals agreement with the UAE as further evidence that progress has been slower than expected.

The opinion piece broadens its criticism by revisiting previous pipeline proposals that were cancelled or delayed, arguing that regulatory uncertainty continues to discourage private investment.

It also contends that the federal government is attempting to balance support for resource development with existing environmental policies, creating mixed signals for investors.

The author concludes that improving Canada's investment climate and reducing approval delays are necessary if the government hopes to convert international interest into actual economic development.