Mr. Speaker, the hon. member echoes what we have been saying on this side of the House and what we heard during the hearings in Yellowknife.
The importance of that regulatory system can best be understood if I quote the president of Dominion Diamond Holdings Ltd., Brendan Bell. He said:
With respect to the regulatory improvement aspects of this bill, Dominion Diamond is supportive of initiatives to ensure an effective but timely regulatory process. Specifically, we're encouraged that the Government of Canada is bringing forth changes that will ensure clarity and certainty in the review and assessment of proposed projects by establishing firm time limits for these reviews, similar to limits that exist in other regulatory processes.
I submit, with respect to my learned friend, that this is how we can ensure that investors will look favourably at the Northwest Territories for investment.