Western diversification program 2025

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Economic diversification can be defined as the shift toward a more varied structure of domestic production and trade with a view to increasing productivity, creating jobs and providing the base for sustained poverty-reducing growth.
Economic diversification entails shifting from traditional sectors, like agriculture and mining, to a variety of high-quality services and sectors. This transition is crucial for adapting to global market fluctuations and promoting sustainable growth and improved living standards.
The diversification index signals whether the structure of exports by product of a given country or group of countries differ from the structure of product of the world. Diversification index is computed by measuring absolute deviation of the country share from world structure.
The Western economic system is based on the intertwined and overlapping concepts of neoliberalism, laissez faire, free market, and economic freedom. It is typically dominated and driven by the financial sector, which commands the lions share of corporate profit while accounting for only a small fraction of employment.
Economic diversification is the process of shifting an economy away from a single income source toward multiple sources from a growing range of sectors and markets. Traditionally, it has been applied as a strategy to encourage positive economic growth and development.
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Western Economic Diversification (WD) Canadas programs offer grants and loans to companies, not-for-profits and communities. These funds help grow Western Canadas economy and improve the quality of life for all western Canadians.
The Western Economic Diversification Canada (WD) Business Scale-up and Productivity program helps businesses with high growth potential adopt/adapt innovative technologies that support productivity, grow operations, and increase exports to global markets.

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