QUEBEC CITY -- Quebec’s Minister of Economy and Innovation Pierre Fitzgibbon says he has no regrets over his actions to attempt to divest himself of his private business interests since the 2018 provincial election.

His declaration comes despite a new report from the National Assembly Ethics Commissioner that recommends reprimanding Fitzgibbon.

In her report tabled Tuesday, Ariane Mignolet noted shortcomings in the declaration of the minister's interests in certain companies that deal with the government.

Last month, Fitzgibbon was censured by the National Assembly in a historic first.

In addition, the commissioner criticized the minister's lack of cooperation in her investigation.

But Fitzgibbon, in a news conference Tuesday afternoon with Premier Francois Legault, said he tried but was unable to sell his interests in two private companies.

“I tried to sell them, but I didn’t even get any offers,” Fitzgibbon said, explaining that the unnamed companies are small technology companies in which he has invested.

He said he will not resign from his position. Instead, the CAQ government will institute a temporary firewall so that if the companies in which Fitzgibbon has invested approach the government’s investment agency, known as Investissement Quebec, then Fitzgibbon would automatically recuse himself from dealing with the file. Companies with ties to the minister will also be discouraged from approaching the government for financial aid or grants.

Fitzgibbon will also voluntarily file a special statement of his business interests in the two private companies twice a year with the ethics commissioner.

Fitzgibbon and Legault said the Ethics Code is outdated since it could not accommodate “unusual” cases like the one faced by the minister but which are now more commonplace than when it was first implemented.

The premier said he will work with opposition parties to update the code, adding it is a delicate matter and he understands the need for input from the opposition.

Premier Legault said Quebec is lucky to have Fitzgibbon given his business pedigree and past involvement with Domtar, the National Bank and the Caisse de Depot.

Fitzgibbon said the first priority right now is to deal with the pandemic and that Quebec’s economic recovery is what he wants to focus on in the near future.

- With files from The Canadian Press