Canada launches Defence Investment Agency to expedite military procurements

The Canadian government has launched the Defence Investment Agency (DIA), designed to centralize and streamline the procurement process for major defence purchases valued at $100 million or more, aiming to eliminate duplication and red tape. Overseen by Secretary of State for Defence Procurement Stephen Fuhr and led by CEO Doug Guzman, formerly of the Royal Bank of Canada, the agency seeks to equip the Canadian Armed Forces at the "speed of relevancy" amid rapidly advancing technology. By consolidating staff from multiple departments, the DIA provides a single point of accountability to expedite defence purchases and improve clarity for the defence industry. The agency will focus on speeding up procurement timelines while maintaining standard processes for smaller contracts. This initiative aligns with Prime Minister Mark Carney's commitment to reform defence procurement and enhance Canada's defence capabilities, including diversifying equipment sources beyond the United States and fostering partnerships with allied countries like the UK, Australia, France, and the European Union. The DIA reflects Canada's increased defence spending commitment to NATO and aims to strengthen the country's defence industrial base and international collaboration.