Mr. Speaker, Resource and Energy Development Information, or better known as REDI, the promotional initiative and developments of our NWT resources through this marketing publication: Mr. Speaker, on February 21st, next week, in Norman Wells, the Department of Industry, Tourism and Investment is sponsoring a REDI session, an open-house engagement to better understand public awareness of resource and energy development.
This, Mr. Speaker, is truly the first step in community and regional consultations for all stakeholders to develop meaningful discussions on regulatory and co-management issues.
Mr. Speaker, 32 percent of our NWT economy is driven by the resource development. This realizes the revenues for public and private sectors. Complementing this economic sector means collaboration with community stakeholders on a fair and transparent regulatory regime.
Mr. Speaker, the devolution agreement, which sees the transfer of resource responsibilities from the Government of Canada to the Government of the Northwest Territories, is real and now in the process from mirrored legislation to a made-in-the-North, new Mineral Resources Act.
Mr. Speaker, after decades of negotiations with our federal counterparts on the issues of independency over responsible resource development, we arrived at our destination.
Mr. Speaker, since the 2008 Neil McCrank report on regulatory reform and after the latest "what we heard" consultations, committee is tasked with the responsibility on legislation community engagements.
Mr. Speaker, as mentioned, as legislators, we look through the lens of legislation and policy. It is my sincere hope that our previous deliberations and publication reflect the collective wisdom of all stakeholders who were consulted while drafting a system of efficiency, effective, and responsive.
In closing, Mr. Speaker, I acknowledge the hard work of the Department of Industry, Tourism and Investment and the public's valued involvement. Mahsi.