The opinions expressed in this editorial are those of the author and do not necessarily reflect those of Decima Reports.The members of the House of Commons Industry committee are to be congratulated for their diligent work in a short time examining the foreign ownership restrictions. Those of us in Ottawa are used to dithering and waffling from politicians; this crew took its job seriously and made bold suggestions for rescuing the telecom sector.   But letting outside capital into the country is only one step in what needs to be a major overhaul of the investment and regulatory process. Smaller telcos and telecom unions sounded the alarm about loss of jobs and cultural identity. Protection needs to be legislated in before international money comes flowing in. It worked for the Auto Pact, it can work here. Foreign capital can be used to bolster ILECs, CLECs, resellers and fledgling entrants like utels and cablecos. Even without new funding, established telcos will be forced to run efficient operations to counteract the influence of rejuvenated rivals. Similarly intriguing is the committee’s call for departmental reorganization. It has become unwieldy to have one department handle investment rules and spectrum allocation, while another has jurisdiction over the CRTC and cultural issues. The back-to-the-future approach of re-establishing a Department of Communications is worth a look. A new DoC will not necessarily be a panacea, of course. When Eric Kierans was made the first minister of communications in Pierre Trudeau’s first Cabinet, he recruited some of the best and the brightest minds to work in the department. They set out to conquer the Canadian communications community. But the view through rose-coloured glasses was soon darkened by red tape. The bureaucratic muddle overtook the hopes and dreams of the communications crusaders. Most shuffled away, turning to jobs in the private sector where their spirits were not so readily crushed. The telecom industry was justifiably happy with the results of the investment review. Government must act quickly but it must realize that the process needs to be ongoing and more complete.