IBNS-CMEDIA: Prime Minister Mark Carney recently unveiled Canada’s first Defence Industrial Strategy, a bold initiative to ramp up domestic defence manufacturing and generate 125,000 jobs.
According to CTV News, the plan promises $180 billion in procurement opportunities and introduces the Defence Investment Agency (DIA) to streamline processes.
Industry leaders hailed the strategy as a game-changer. CAE President and CEO Matthew Bromberg described it as “the appropriate step for Canada, Quebec, and CAE,” as reported by CTV News.
Christyn Cianfarani, President and CEO of the Canadian Association of Defence and Security Industries (CADSI), called it “a significant development for the defence sector,” projecting growth not seen since the 1950s, per the same CTV report.
However, executives pointed to slow government procurement as a major potential barrier.
CTV News quoted Cianfarani warning that the current system is an “Achilles heel” needing “substantial alterations” and much faster contract approvals.
Quebec’s Manufacturers and Exporters President and CEO Julie White added that while the strategy shows “good intentions”, it must better link small- and medium-sized enterprises to succeed.
The Prime Minister’s Office emphasised the DIA’s focus on cutting red tape and prioritising Canadian production.
According to a statement, successful reforms could deliver major economic gains by 2035.
