Title: Canada Launches New Agency to Streamline Military Procurement

OTTAWA — The Canadian government is establishing a new federal procurement agency aimed at transforming how the military acquires its equipment. The Defence Investment Agency will be overseen by Secretary of State for Defence Procurement Stephen Fuhr. He stated that the agency's goal is to deliver equipment to the Canadian Armed Forces more quickly and effectively.

Former Royal Bank of Canada executive Doug Guzman has been appointed to lead the new agency, which will operate under Public Services and Procurement Canada. This initiative is part of the Liberal government's commitment to reforming defence procurement, a promise made by Prime Minister Mark Carney during the recent spring election. The aim is to streamline the military purchasing process and reduce the lengthy delays that have plagued previous efforts.

The establishment of the Defence Investment Agency was initially proposed in 2019. However, plans were put on hold due to the COVID-19 pandemic. Now, with renewed focus, the government is moving forward with this initiative.

Canada has pledged to its NATO allies to allocate two percent of its GDP to national defense annually, a spending level not seen since the Cold War. This commitment underscores the urgency of improving military procurement processes to meet both national and international defense obligations.