Friday, 10 September 2010
Steve Finch
The Phnom Penh Post
"...it should be noted that countries with a far worse reputation on corruption than Cambodia have gone a great deal further on disclosure"
THE Ministry of Economy and Finance at the end of August again published data on extractive industry revenues – a sign the government is committed to at least a low level of transparency in this sector.
But this is just the first step. Just how far will Cambodia go in terms of full disclosure, and when?
Figures released in a national budget overview on August 23 showed the government needs to improve transparency as soon as possible, not least because oil, gas and mining revenues are increasing dramatically meaning more money is at stake.
In the first half of 2009, the Kingdom generated just 6 billion riels (US$1.45 million) in extractive industry revenues, a figure that multiplied 20 times in the same period this year to 118.49 billion riels, or $28.56 million.
Please click here to read more...
But this is just the first step. Just how far will Cambodia go in terms of full disclosure, and when?
Figures released in a national budget overview on August 23 showed the government needs to improve transparency as soon as possible, not least because oil, gas and mining revenues are increasing dramatically meaning more money is at stake.
In the first half of 2009, the Kingdom generated just 6 billion riels (US$1.45 million) in extractive industry revenues, a figure that multiplied 20 times in the same period this year to 118.49 billion riels, or $28.56 million.
Please click here to read more...
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