The figure stands for nearly one per cent of the country's population each year.

"Canada welcomed more than 286,000 permanent residents in 2017 and projects that number could reach 350,000 this year," reported CNN.

Ahmed Hussen, Canada's minister of Immigration, Refugees and Citizenship (IRCC) was quoted as saying by CNN: "Thanks in great part to the newcomers we have welcomed throughout our history, Canada has developed into the strong and vibrant country we all enjoy."

The minister further said that the move will help offset Canada's ageing population and declining birth rate while growing its labor force.

Canada is taking the stance at a time when several other Western nations, including the United States, have been adopting restrictive immigration policies in recent times.