Minister’s 2015 travel costs
In 2015, Finance Minister Michael de Jong went on five investor relations tours to the United States, Europe, Asia and Central Canada. On these trips, the minister met with international investors and key government officials to promote B.C.’s stable economic story, triple-A credit rating, Canada’s role as a Renminbi (RMB) trade hub and investment opportunities such as LNG and British Columbia bonds.
London Mission Travel Costs:
Lead: Minister of Finance Michael de Jong
Countries: England
Duration: Five days (Feb. 27-March 3)
Cities: London
Travel costs, official delegation: $7,792
Travel costs, support staff: $3,107
Meetings and hosted functions: N/A
Gifting: N/A
Interpreter/translation: N/A
Total mission costs: $10,899
Note: Travel costs include all transportation, lodging, meals and incidental expenses.
U.S. and Canada Mission Travel Costs:
Lead: Minister of Finance Michael de Jong
Countries: United States, Canada
Duration: Five days (April 6-10)
Cities: New York, Montreal, Toronto, Chicago
Travel costs, official delegation: $8,181
Travel costs, support staff: $7,068
Meetings and hosted functions: N/A
Gifting: N/A
Interpreter/translation: N/A
Total mission costs: $15,249
Note: Travel costs include all transportation, lodging, meals and incidental expenses.
Europe Mission Travel Costs:
Lead: Minister of Finance Michael de Jong
Countries: Netherlands, France, Greece
Duration: 10 days (May 1-10)
Cities: Amsterdam, Paris, Athens
Travel costs, official delegation: $10,699
Travel costs, support staff: $5,174
Meetings and hosted functions: N/A
Gifting: N/A
Interpreter/translation: N/A
Total mission costs: $15,873
Note: Travel costs include all transportation, lodging, meals and incidental expenses.
Malaysia Mission Travel Costs:
Lead: Minister of Finance Michael de Jong
Countries: Malaysia
Duration: Eight days (July 25-Aug. 1)
Cities: Kuala Lumpur
Travel costs, official delegation: $12,727
Travel costs, support staff: N/A
Meetings and hosted functions: N/A
Gifting: $330
Interpreter/translation: N/A
Total mission costs: $13,057
Note: Travel costs include all transportation, lodging, meals and incidental expenses.
Asia Mission Travel Costs:
Lead: Minister of Finance Michael de Jong
Countries: China, India
Duration: 12 days (Dec. 2-13)
Cities: Beijing, New Delhi, Mumbai
Travel costs, official delegation: $19,542
Travel costs, support staff: $6,636
Meetings and hosted functions: N/A
Gifting: N/A
Interpreter/translation: $4,817
Total mission costs: $30,995
Note: Travel costs include all transportation, lodging, meals and incidental expenses.
London and U.S./Canada Mission Highlights – Feb. 27-March 3, 2015, April 6-10, 2015:
- The minister met with local financial communities in England, the U.S. and Canada to promote B.C’s triple-A credit rating, history of consecutive balanced budgets and investment opportunities, such as LNG.
- In England, the minister discussed how the Province can learn from London’s experience as a designated RMB trade hub.
Europe Mission Highlights – May 1-10, 2015:
- During stops in Europe, de Jong met with international investors to discuss B.C.’s favourable economic story and promote investment opportunities including B.C. bonds, LNG and the maritime shipping industry.
- While in the Netherlands, the minister represented B.C. in Canada’s official delegation to commemorate the 70th anniversary of Victory in Europe Day.
- In October 2015, government issued a Euro bond that raised €500 million (about C$750 million) and attracted a diverse group of investors, including many organizations the minister and staff met on investor tours.
Malaysia Mission Highlights – July 25-Aug. 1, 2015:
- The minister met with key government officials to discuss the ratification of a project agreement with Pacific NorthWest LNG, and the project’s implications for enhanced bilateral trade.
- If the project proceeds, Pacific NorthWest LNG will make an estimated $36 billion investment to build an LNG plant on Lelu Island near Prince Rupert, creating an anticipated 4,500 jobs at peak construction and hundreds of long-term operational and spinoff jobs.
- The B.C. government continues to explore trade and investment opportunities with Malaysia
Asia Mission Highlights – Dec. 2-5, 2015, Dec. 7-13, 2015:
- While meeting with government officials and financial institutions in Beijing, de Jong announced B.C. was the first sovereign government to receive approval to establish a Panda bond program in China’s domestic bond market. The six billion RMB program gives the Province unparalleled access to one of the largest capital markets in the world and a new, diverse group of investors. Subsequently, in January 2016, B.C. issued its first Panda bond – a three-year bond that yielded 2.95% and raised three billion RMB (about C$665 million).
- The minister met with industry and government representatives in India to explore how B.C.’s success in China’s bond markets can be replicated in the Indian Rupee bond market.
- India is one of the world’s fastest-growing emerging economies, and the minister discussed opportunities to enhance business and investment partnerships, and how the Province can help fulfill India’s growing demand for sustainably-sourced wood.