Cambodia is facing a natural resource boom, prompting donors and non-government organisations (NGOs) to warn that without measures to improve financial transparency, promote better governance and curb corruption, the potential windfall could be squandered.
"It is not necessarily a blessing for a country to be endowed with petroleum resources", Arne Walther, a Norwegian diplomat said. Norway is cited by many as a success story in terms of how to handle the issues raised by an influx of petro dollars.
"It is how governments arrange for their resources to be extracted and how revenues earned are used that determine the success or failure of being a petroleum endowed state", Walther said. "I believe Cambodia faces a challenging task in planning and developing its petroleum sector and developing policy and instruments for channelling the future oil and gas revenues in a best possible way for the benefit of Cambodians. It is actually a momentous task."
"We realise the opportunities that petroleum revenues may afford us to improve the livelihoods of the Cambodian people," Deputy Prime Minister Sok An told the gathering. "The translation of the capital value of oil reserves into the stored capital value of our people through improved health and social conditions and education is very important for the long term prosperity of Cambodia."
"It is not necessarily a blessing for a country to be endowed with petroleum resources", Arne Walther, a Norwegian diplomat said. Norway is cited by many as a success story in terms of how to handle the issues raised by an influx of petro dollars.
"It is how governments arrange for their resources to be extracted and how revenues earned are used that determine the success or failure of being a petroleum endowed state", Walther said. "I believe Cambodia faces a challenging task in planning and developing its petroleum sector and developing policy and instruments for channelling the future oil and gas revenues in a best possible way for the benefit of Cambodians. It is actually a momentous task."
"We realise the opportunities that petroleum revenues may afford us to improve the livelihoods of the Cambodian people," Deputy Prime Minister Sok An told the gathering. "The translation of the capital value of oil reserves into the stored capital value of our people through improved health and social conditions and education is very important for the long term prosperity of Cambodia."
7 comments:
Say what now? He has been the Saddam HUN SEN of Cambodia for over three generations now...where have you been???
ooooopsie oopsooooo, wrong spot to comment...sorry!
Hey Arne I think you're wasting your time, because my friend Hun he's kinda hopeless.
This is way too much for him.
I guess we have to endure Hun and his friends for quite sometime. Man it's like a bad dream that never end.
That's right; that is what things supposed to be like for Ah Khmer-Yuon. I mean a never ending nightmare. Get the picture, moron?
When the noghtmare gone so your children 12:16pm! No9 more Hun or Hok even Sok! only bok left!
this is a fair warning. please don't let your guard down, cambodia. be perserverant in order to avoid this kind of doom, some countries in africa or elsewhere are experiencing. cambodia can avoid this same fate by planning ahead and get educated about ways to do it best. ask other more successful countries for assistance, if so lack of ideas or concepts. god bless.
i see cambodia as in a crossroad now, so please choose wisely which way we are heading. there are many successful countries and failed countries out there on the planet, so cambodia must be wise to choose what is a good example to follow or what is a bad one to avoid. i'm optimistic that cambodia will choose the right path to follow, especially if we want our country to prosper say like thailand for lack of idea. god bless cambodia.
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