A few things are coalescing in terms of why we are before committee right now.
In the last two weeks, the Government of Canada came to Vancouver, to my home province, and it outlined that China's assertive pursuit of its economic and security interests, advancement of unilateral claims, foreign interference and increasingly coercive treatment of other countries and economies have significant implications in Canada. That is the position of the Government of Canada.
On December 7, the Minister of Industry outlined, in his departmental explainer, how we need to amend the Investment Canada Act to extend authority to the minister to do national security reviews with respect to investment. Since December 1, the Government of Canada has come forward and said, one, the threat of China in Canada is very real and very concrete; and, two, the Investment Canada Act is not strong enough to protect Canadian sovereignty and more needs to be done to ensure that our sovereignty is protected, by expanding both the powers of the minister and our ability to conduct reviews. I will add a third point: The Government of the United States has already acted in a similar fashion against the company we have been discussing today.
The Government of Canada also outlined that, with China's rapid and dramatic modernization and as it becomes more assertive, Canada must step up as a reliable partner in the Indo-Pacific region to promote security and stability. That brings us to our committee here today.
We have an opportunity, in good faith with just a few meetings, to look very closely at a decision of the Government of Canada that—and rightfully so—it recognized needed to be looked at and on which it took action. We need to know what was behind that decision and we need to make sure we do better, as a country, to stop awarding contracts to companies with ties to the People's Liberation Army or the Government of China.
We can do better, and this committee has a direct responsibility to look very closely at what took place. Announcements are not enough. This committee can lead toward concrete actions and better protection of Canadian sovereignty. I, as a British Columbian, will note that there was a reason the government came to British Columbia. It's because B.C. is the gateway to the Indo-Pacific region. I, as a British Columbian MP, will say that these concerns are very top of mind for many people, with respect to both the integrity of our institutions and our economy, and they want the industry committee to look closely at these things.
I think all committee members should work very closely together. Let's do a quick study. Let's improve the way we protect Canadian sovereignty. We have a duty.
Thank you, Mr. Chair.