Mr. Chair, thank you very much for the opportunity to speak to the committee today.
As you know, technological innovation has always affected the way we do things and has directly contributed to global economic growth. Historically, Canada and Quebec have always been symbols in technological innovation. It's very important to point that out.
There are endless examples of technologies' positive impacts, and businesses from all sectors are constantly benefiting from the advancement in information and communications technologies. All too often, people forget that the first ATMs were designed and installed in Quebec, and that Montreal was the birthplace of word processing. The telephone was also invented in that city. Canada and Quebec have many world-class technology companies, global centres of expertise and multinationals. As a society, we must find innovative solutions to new challenges at all times.
Currently, we are seeing a slow-down in R & D, a shortage of specialized resources, training gaps and lack of advancement for young people. We are also seeing a drop in the support provided by governments, which have the ability to create conditions that foster innovation as a factor of competitiveness and productivity.
In order to ensure their future and distinguish themselves on the global stage, Canada and Quebec have to ask themselves the right questions. Reduced investments in information technology constitute a short-term solution. Of course, such a downturn helps strengthen a company's balance sheet, but only for a few quarters. Eventually, the company will lose not only its capacity for lower-cost production, but also its intelligence. It sacrifices its capacity to create new products and destroys its ability to manufacture them more efficiently.
Every significant study carried out in Canada and the United States has come to the same conclusions. We must encourage and invest in sources of long-term growth. Clearly, the technological sector will provide the foundations of that growth to improve productivity and provide our Canadian and Quebec companies with all the production flexibility the new world order calls for. The Fédération des chambres de commerce du Québec has a few relevant recommendations.
As governments, companies and organizations, we must promote a culture of innovation by raising awareness of the challenges involved and recommending actions that will position Canada and Quebec at the forefront. We must establish or enhance government programs targeting technological investment in businesses. We must develop a Canadian digital economy policy that fosters the development of innovation and productivity. We should also help Canadian leaders better understand the increasingly important role technologies play in the development of our economy, and encourage them to show commitment to that cause. We must also encourage Canadian companies to show leadership and mobilize in order to help us prosper as a country.
Finally, we must show that technological progress remains the best and the most effective catalyst for stimulating business innovation.
Thank you very much.