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Economic recovery will take time, collaboration and innovation: industry minister

Getting the territory's economy back on its feet post Covid-19 wonSA国际影视传媒檛 happen overnight: it will take time, collaboration and innovation, says Katrina Nokleby, minister of Industry, Tourism and Investment.

SA国际影视传媒淚 can tell you that we are planning for a slow and steady but long period of (economic) recovery,SA国际影视传媒 said Nokleby during the NWT Chamber of CommerceSA国际影视传媒檚 annual general meeting SA国际影视传媒 held via video-conference SA国际影视传媒 Thursday.

Katrina Nokleby, minister of Industry, Tourism and Investment, , spoke via video-conference during the NWT Chamber of Commerce's annual general meeting May 7.
Katrina Nokleby, minister of Industry, Tourism and Investment, , spoke via video-conference during the NWT Chamber of Commerce's annual general meeting May 7.

SA国际影视传媒淚 promise you, we will throw everything we have as a government into identifying and implementing a recovery effort that will enable us to emerge from this crisis with a brighter futureSA国际影视传媒 said Nokleby.

For that to happen, new solutions are needed for new problems brought on by the novel coronavirus and its economic impact in the NWT.

SA国际影视传媒淚f thereSA国际影视传媒檚 ever a place where the people are adaptive and creative, itSA国际影视传媒檚 the North,SA国际影视传媒 continued Nokleby. SA国际影视传媒淎nd itSA国际影视传媒檚 those strengths that will allow us to emerge from this pandemic stronger than ever.SA国际影视传媒

Nokleby's speech came hours after the chamber of commerce issued a withering letter to Premier Caroline Cochrane complaining about her lack of response to an earlier letter sent May 1 asking for a temporary moratorium on evictions for commercial tenants. The minister also changed her speaking time so she could attend a last-minute meeting Thursday afternoon.

During her speech, the minister said the government is working to ensure NWT mines can operate through the pandemic due to their importance as economic anchors in the recovery process. SA国际影视传媒淢ining and exploration is the biggest source of private sector jobs and income in the NWT,SA国际影视传媒 she added.

But the finance minister said Covid-19, and the global response itSA国际影视传媒檚 provoked, has further revealed governmentsSA国际影视传媒 need to be innovative.

SA国际影视传媒淚 believe thereSA国际影视传媒檚 a silver lining,SA国际影视传媒 said Nokleby. "The worldwide effort weSA国际影视传媒檝e put into economic recovery will bring in new opportunities. If we can position ourselves to learn from the wave of innovation weSA国际影视传媒檙e seeing, perhaps we can re-imagine our economy for the future - one that  promotes our wealth of natural resources, but one that also encourages a more diversified and resilient economy that builds on our natural strengths."

Nokleby said once restrictions are relaxed and the economy begins to open up again, its recovery will SA国际影视传媒渄epend greatly on what we can do together and for each other. She said everyone has a role to play in the economySA国际影视传媒檚 recovery, from governments and businesses to residents.

SA国际影视传媒淭he importance of buying Northern and buying locally has never been more true as it is today,SA国际影视传媒 said Nokleby.

SA国际影视传媒(The department's) intent is to prioritize proposals that are forward looking; where community employment is emphasized and the bulk of the funds will be spent locally,SA国际影视传媒 she continued.

In the meantime, the territorial government, after securing additional support for NWTSA国际影视传媒檚 airline industry, will continue to push for additional economic relief from Ottawa.

SA国际影视传媒淲e will continue to, as you have, to lobby the federal government to work with us and the NWT business community to adapt and adjust to the changes brought on by Covid-19,SA国际影视传媒 said Nokleby.

Nokleby said the ITI department is SA国际影视传媒渁lready considering changes to our procurement policies and practices to expand our support of NWT businesses coming out of this crisis,SA国际影视传媒 including support for NWT manufacturers to ensure businesses can meet the territory's demand for personal protective equipment.

SA国际影视传媒淎s work continues on the plan to reopen the NWT economy, businesses need to do their part to prepare so they can be ready to open up when the time is right. Physically distancing measures are likely to be in place for a long time; additional (personal protection equipment) will be required for many businesses prepared to reopen,SA国际影视传媒 the minister continued.

SA国际影视传媒淲e are changing our thinking, and ever so cautiously beginning to work ahead.SA国际影视传媒





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