The Minister of Economy and Energy, Pierre Fitzgibbon, has expressed strong reservations about the possibility of new Chinese investments, in a context where he considers that Quebec has already reached its maximum capacity to receive foreign capital. .
Mr. Fitzgibbon relied on the political situation in the People’s Republic of China to deliver the substance of his thoughts on Tuesday.
“The geopolitical environment makes us uncomfortable, there is no doubt,” he told the Dutyat the end of a parliamentary committee responsible for studying the budgetary appropriations of his ministry.
The Minister gave the example of the mining sector, where a Chinese company would hold exploration rights on Quebec territory.
“It makes us a little more allergic,” he explained. A Chinese company that comes here to invest, I’m not sure we’ll say yes. Is it political? The answer is yes, that is clear. »
According to the Minister, the share of Chinese capital is low in the total of 4.6 billion dollars of foreign investment in fact in Quebec in 2021-2022, against 2.2 billion in 2017-2018.
Investments from Asia accounted for $761.1 million last year, or 16% of foreign capital invested here. Investissement Québec does not have specific figures for China.
“Currently, it is not a focus, said Mr. Fitzgibbon. Will it always stay like this? I wouldn’t go that far. We are not going to eliminate China, they have an important role to play in the global economy. »
Not on the hunt
Last November, the federal government ordered three Chinese companies, including one established in Hong Kong, to dispose of assets held in particular in British Columbia and Manitoba.
In 2020, Chinese participation had slowed down the Flying Whales airship project, in which the Quebec government is a co-shareholder, when federal authorities invoked national security arguments.
Mr. Fitzgibbon stressed on Tuesday that the project is now proceeding without Chinese capital. As for the battery sector, Asian capital comes mainly from Japan and Korea.
This position on China comes in the context where, according to Mr. Fitzgibbon, Quebec has reached its maximum capacity to receive foreign investment, due in particular to the lack of manpower.
“We’re not stopping completely, but we’re not chasing big new projects,” he said.
The Minister would be satisfied if the level of foreign investment is maintained, after having experienced an increase in recent years.
“If we keep this level, we will be correct. You have to find people to work. Existing companies need to be taken care of. »
Artificial intelligence
Earlier Tuesday, during the parliamentary committee, Mr. Fitzgibbon said that the Quebec Innovation Council (CIQ) will take charge of examining the ethical issues of the development of artificial intelligence (AI).
Mr. Fitzgibbon will give more details on Wednesday on the mandate that will be entrusted to this body, whose role is to advise the government and other actors on innovation.
“The CIQ will consult the stakeholders,” said the minister in the parliamentary committee. Several people raised their hands to contribute to the debate. The CIQ will solicit people’s opinions in a non-partisan way. »
Governance, as well as the use of artificial intelligence in state missions, employment and investment, will be among the topics discussed. Mr. Fitzgibbon said the sectors where AI should play a role are health, education and business productivity. The president of the CIQ, Luc Sirois, will submit a report to the government once its work is completed.
The Minister of Cybersecurity and Digital, Éric Caire will also have a role to play regarding governance issues. Two weeks ago, Mr. Fitzgibbon had invited Mr. Cairo, representatives of the opposition and experts from the artificial intelligence sector to discuss the means to be implemented to avoid slippages linked to this technology. The mandate that will be entrusted to the CIQ follows this meeting.
Letter
Questioned Tuesday by Liberal MP Frédéric Beauchemin, Mr. Fitzgibbon said that a parliamentary committee could then take up the subject.
“I am not against a parliamentary commission and a mandate of initiative, he said. But you have to filter. »
At the end of March, Quebec researcher Yoshua Bengio co-signed a letter in which a six-month moratorium is requested from artificial intelligence laboratories. Governments were also invited to work on an AI governance system.
Mr Fitzgibbon said the letter had raised concerns about possible slippages in the use of artificial intelligence. “People who may have read the letter got anxious, rightly because it wasn’t clear. Let’s simplify the procedure, let’s frame it, let’s explain what is at stake, ”he explained.
Mr. Beauchemin, for his part, insisted on the importance of addressing the impact of artificial intelligence on employment. In particular, he cited figures from the investment bank Goldman Sachs indicating that 300 million jobs could disappear or be affected by artificial intelligence.
“There are certain places that are subject to being targeted by the enforcement [de la technologie]like assembly lines, it’s quite a real threat,” he said.
Mr. Fitzgibbon acknowledged that the impact of artificial intelligence on the robotization and digitization of certain jobs will have to be well explained. According to him, the effect will be mitigated by the shortage of labor and the decline in demography.
“Fortunately, we are in an environment where the pressure on employment is such that people see it favourably. The question is going to be the transition. There are positions, blue-collar for example, there is a training and transition issue. »