Canada's Prime Minister, Mark Carney, has unveiled the country's first defense industrial strategy, outlining over $500 billion in planned defense investments over the next decade.
The initiative aims to strengthen national security, expand domestic industry, and create high-paying jobs nationwide.
"In total, over the next decade, Canada will invest $180 billion directly in defence procurement, $290 billion in defence and security-related infrastructure, and generate over $125 billion in additional economic benefits," Carney said at a press conference in Montreal, detailing the scale of the initiative.
He stressed the importance of leveraging Canada's existing defense sector.
"The Canadian defence industry already employs more than 80,000 Canadians directly and many more indirectly," Carney said.
"We must fully maximize the effect of these investments to strengthen our security, improve employment, and protect our sovereignty," he added.
Stressing that this "is not just about increasing the size of the military," Carney said it is also about "the strength of our industries, the resilience of our economy, and our ability to act independently when it matters most."
Carney explained that the strategy represents "an ambitious plan to provide the Armed Forces with what they need, at the right time," as well as to expand Canadian defense companies and create over 125 high-paying jobs across Canada.
He said the strategic framework is simple, "build, collaborate, buy," prioritizing Canadian companies and collaboration with allies.
"The centerpiece of our new approach is the Defense Investment Agency (DIA)," Carney said. /AA/
