Mr. Speaker, two weeks ago, I had the privilege of participating in a Diamond Industry Development Conference sponsored by the Yellowknife Chamber of Commerce in the city of Yellowknife. It was the first major diamond conference here in the north. A number of international experts were in attendance, and five or six companies expressed strong interest in setting up cutting, polishing and value-added businesses here. However, these companies could as easily be lured away to Alberta or BC whose governments are right now actively lobbying them to establish there. Now that BHP has agreed to establish a sorting and valuation plant in Yellowknife, it makes sense for this government to take the next step and support those businesses to establish here. We have the opportunity to make Yellowknife the diamond capital of North America and that will benefit all of the north.
Since our government and I believe our Finance Minister was willing to invest $50 million to buy rough diamonds in order to get the value added industry off the ground, now is the time to redirect some of that money to assist this industry to establish in the north. This government should do its utmost to ensure we reach that goal so that in years to come, hundreds of northerners could possibly be employed in value-added industries. Others have done it and we can do it. Why should we not do it? Now is the time to act and to act decisively and with enticements by putting our money where our mouth is to attract a couple of these value-added businesses. We sent a signal to others that we are open for business and others will follow. The industry will subsequently grow on its own.
However, developing the northern economy is not just a territorial and municipal government responsibility. The federal government is equally responsible because they still control our resources and their development. DIAND, as the name implies, is responsible for National Indian Affairs and Northern Development. They should contribute financially to get this value-added industry up and running. Let us send a message to Minister Jane Stewart and an invitation for her to come north to sit down with us, to hammer out a support and an incentive package. Thank you, Mr. Speaker.
--Applause