The Ontario Immigrant Investor Corporation was dissolved on March 31, 2023.

October 3, 2022

Ms. Patricia Perez
Chair
Ontario Immigrant Investor Corporation
14th  Floor, 400 University Avenue
Toronto, Ontario
M7A 1T7

Dear Ms. Perez:

I am pleased to share our government’s 2023–2024 priorities for the Ontario Immigrant Investor Corporation (OIIC).

As Chair, you play a vital role in helping the OIIC achieve its mandate. It is important that your agency’s goals, objectives, and strategic direction continue to align with our government’s priorities and direction. As part of the government of Ontario, agencies are expected to act in the best interests of the people of Ontario and ensure that they provide value for money to taxpayers. Agencies are also required to adhere to government policies and directives.

Per the requirements of the Agencies and Appointments Directive, this letter sets out my expectations for the Ontario Immigrant Investor Corporation for 2023–2024. These priorities include:

1. Expenditure management

  • Operate within the agency’s financial allocations.
  • Comply with applicable accounting practices.

2. Transparency and accountability

  • Abide by applicable government directives and policies and ensuring transparency and accountability in reporting.
  • Adhere to the accounting standards and practices and respond to audit findings, where applicable.
  • Identify appropriate skills, knowledge and experience needed to effectively support the board’s role in agency governance and accountability.

3. Risk management

  • Develop and implement an effective process for the identification, assessment, and mitigation of agency risks, including COVID‑19 impacts and any future emergency risks.

In addition to these priorities, I ask that the OIIC continue to be responsive to ministry staff as they plan for and prepare the agency’s dissolution in 2022–2023. Through these measures, we can together ensure that the OIIC continues to fulfill its mandate until its dissolution.

I thank you and the OIIC board members for your continued support, and for your valuable contributions. Should you have any questions and/or concerns, please feel free to contact Shaloma Gauthier, Manager, Business Immigration Unit.

Sincerely,

Monte McNaughton
Minister of Labour, Immigration, Training and Skills Development