(check against delivery) - March 19, 2012
Bonsoir et bienvenue à nos amis du Québec aux Territoires du Nord-Ouest. Cela nous fait plaisir de vous voir ici.
J’espère que votre visite, à date, vous donne une idée des richesses que nous avons à offrir. Comme vous le savez nous sommes ensemble pour discuter du potentiel incroyable des Territoires du Nord-Ouest. Et, de voir comment, grâce à votre aide, nous pourrons libérer ce potentiel.
C’est une époque excitante pour ceux qui veulent investir et participer à l’avancement et le développement de nos richesses.
J’espère que vous me pardonnerez si je dois maintenant parler en Anglais. Mon Français n’est pas terrible.
Our economy has been one of the strongest in Canada for over a decade. At a time when much of the global economy is stagnating, the northern economy is booming. Some of you here tonight may have heard the recent great reports from the Conference Board of Canada – that Canada’s northern territories will lead the nation in growth in the next two years.
The Northwest Territories economy is forecast to grow by more than seven per cent in 2012 and 2013 – shooting past the Canadian average of two per cent.
While we export $2 billion in diamonds every year, much of our mineral wealth remains untapped. Our vast landscape is blessed with an abundance of resources that include diamonds, precious metals, rare earths, oil and natural gas. The potential in our territory’s resource base gives us one of the most favourable long term outlooks in the country.
We also have seven advanced mineral exploration projects in the works, several of which are expected to come on-stream in the next decade. A great example is Avalon Rare Metal's Nechalacho rare earth elements project near Thor Lake, which is now ranked as the largest rare earth deposit outside of China.
Increased diamond production at Diavik and Snap Lake is helping the territory's Gross Domestic Product (GDP) grow by six per cent this year. Our diamond industry is also projected to stay strong, especially with the Gahcho Kue mine production on the horizon. Global demand for diamonds continues to surpass supply.
Mineral exploration spending was also up 30% last year, another fact that bodes well for our investment climate. Further exploration means potential for construction of new mines, more jobs and more economic growth.
And although our resource base is the foundation of our economic growth, we have investment opportunities in other sectors as well – namely tourism, construction, energy technologies and transportation.
I also encourage you to look into possible partnerships to increase your opportunities for success – they are key in the Northwest Territories. Aboriginal and Inuvialuit Development Corporations are eager to partner with established businesses and entrepreneurs to develop joint ventures. They can provide the kind of financial backing expanding businesses are seeking, for a share in revenues and employment benefits.
The Northwest Territories will continue to lead the nation in economic growth. We look forward to working with investors and business people who share our vision of the future, and we are looking for financial investment to maximize the opportunities we have at our fingertips and in our backyard. I have no doubt that there are opportunities for every one of you in this room.
The numbers and the facts show our economy is in a strong position and is poised to make that leap forward. With increased investment, the benefits can only get better and the economy can only get stronger.
I hope I’ve given you enough of a taste of our potential that you want to learn even more. Our partners from the Conseil de développement économique des Territories du Nord-Ouest are here to answer any of your questions. I am also happy to speak to you and let you know more about the potential here in the territory. We are open for business and we want you to be a part of our exciting economic future.
I would like to thank you all for coming and look forward to speaking with you more this evening.
Have a great evening.
Encore mes amis, bienvenue chez nous.