Canada is one of the world’s largest economies, which has grown over the years without making much noise of its economic existence. It is famous for its economic stability, political security and vast natural resources. Canadian government’s sustained effort to promote foreign trade, investment and innovation has yielded positive results in a short span of time.
Alberta is the richest state of Canada and it is rich in natural energy resources. Alberta has redefined the world’s oil industry with its technological breakthroughs in oil sands development. These technological advancements and innovative management have positioned Alberta the second largest proven oil reserves nation after Saudi Arabia.
Natural energy wealth in the form of natural gas, coal and oil has propelled the tremendous growth of Alberta in other fields too. USD 1.1 billion was set aside for R&D in medicine, engineering and life sciences. SemBioSys Genetics Inc is one of the success stories of Alberta region that has succeeded in the area of biotechnology. Alberta has the state of the art Nanotechnology institute in the world. Alberta’s collaboration with International Space Station itself shows its engineering might.
Today, Alberta’s economy is highly diversified and vibrant. Prominent industries in Alberta consist of petrochemical, food processing, forestry, fabricated metals, telecommunications and machinery. Approximately 67% of Albertans between 25 and 64 are with a post-secondary education proves that there is quality work force. Calgary Health region of Alberta is renowned for its heath care practices in North America. Recent surveys conducted by leading rating agencies still see Alberta as one of the best locations in the world to extract best returns on one’s investment.