Mr. Speaker, it's a slow economy we live in, not only in the North but around the world. Low commodity prices, sluggish exploration spending, looming climate change concerns, international security and safety, unpredictability in Washington, understandably, it's a nervous time. Economic cycles happen, meaning that, following each decline, there is inevitably a rebound. Mr. Speaker, I was pleased to hear the Minister of Industry, Tourism and Investment's statement earlier this week, outlining a broad multifaceted approach to economic development in the Northwest Territories because moving ahead on many different fronts is what will prepare our economy to be ready when investment is ready for us. We already have bright prospects. The Whati road will support exploration and mineral development but also tourism and traditional economy. The TerraX exploration program returns a promising level of activity to the Yellowknife area. There is even positive interest once again in Pine Point.
Mr. Speaker, the NWT's world-class resources will continue to attract attention and ultimately investment, but we have to be ready. How? We must develop strategies based on the needs of our citizens and communities that will show potential investors we are open for business. For the economy, we must have strategies in place. Our mineral development, oil and gas, fisheries, forestry, agriculture, climate change, and energy. We must be prepared to develop our natural assets in a way that serves our people and communities and honours and sustains our land. For our people, we must resolve our land rights and Aboriginal self-government questions to provide certainty for all. We need to build an educated, capable work force that's ready to step into employment and training opportunities. The highest priority is healthy families and communities and security for our children and elders.
I was encouraged by the Minister's approach to economic development. It promotes the principles of a stable resource sector as the foundation of our economy while simultaneously prioritizing investment in our people and growth for new areas like agriculture and fisheries. A diverse economy will be a stronger economy. Mr. Speaker, these strategies and commitment to the goals we set in the mandate will help us kick-start the economy from the inside out. When investors look again to the North, they'll see the kind of certainty and confidence that they're looking for. Let's be prepared. Thank you, Mr. Speaker.