SFNED Executive Director Shaun Soonias speaking at a business summit in Lloydminster.
A prominent Indigenous business leader is urging First Nations to invest in the Saskatchewan economy.
Shaun Soonias, the Executive Director of the Saskatchewan First Nations Economic Development Network, says the province is rich in resources and economic opportunities.
Soonias drew attention to the oil and gas industry, uranium, potash, agriculture, manufacturing, and mining as the many opportunities for investment. The Fraser Institute recently declared Saskaatchewan the number one jurisdiction in the world for mining attractiveness.
“We are missing out on tremendous opportunities,” said Soonias.
He says too often foreign investment drives the market and he says now is the time for First Nation investment to get involved.
“Wherever you go in Saskatchewan there is a First Nation and Tribal Council that’s close by,” said Soonias. “How do we open our doors to the surrounding communities? How do we bring the jobs to these communities?…The best way we can do that is look how First Nations can invest in their regional economic development.”
Soonias says many first nations do have the finances available in trust funds, land entitlement dollars and other impact benefit agreements.
While he admits any investment comes with risk he says the opportunities could be substantial.
“We can no longer play catch-up we have to play leap-frog,” he said.
Soonias was a keynote speaker at a business summit in Lloydminster on Thursday.