Madam Chair, our government is committed to renewing and strengthening its economic relationship with indigenous entrepreneurs and communities by providing increased economic opportunities to first nations, Inuit and Métis businesses through the federal procurement process.
Our government announced the implementation of a mandatory requirement for federal departments and agencies to ensure that a minimum of 5% of the total value of contracts is held by indigenous businesses. This requirement includes public reporting and will be phased in over three years, beginning this year, with a number of federal departments that are ready to immediately begin this work, with full implementation expected by 2024.
From March 2020 to March 2022, Public Services and Procurement Canada, as a common service provider, has awarded $1.3 billion through 1,744 contracts to indigenous suppliers.
Can the minister tell the House more about the efforts to achieve this mandatory target, and what she is hearing from indigenous business leaders and partners?