Cambodia Promises to Use the Money from Mineral Resources Transparently

Cambodia Promises to Use the Money from Mineral Resources Transparently

The Mirror, Vol. 14, No. 666

“International experts who attended the international conference about mineral exploration that was held for the first time in Cambodia on Wednesday, 26 May 2010, said that mineral exploration in Cambodia, which has not provided any yield so far, is like a blank project that can get benefits from the experience in other countries so as to avoid any possible mistakes.

“The conference was held at the Intercontinental Hotel in Phnom Penh with 300 participants from all around the world to discuss transparency and development for the mineral exploration sector which has just started to be developed in Cambodia.

“This conference was organized also in view of the internal investigation about the accusation against the BHP Billiton [3] company that is known in the public with the allegation that it had bribed [the government] to gain exploration rights in Mondolkiri.

“UNDP Resident Representative Douglas Broderick said during his speech that the start to develop the mineral exploration sector in Cambodia is part of the start to develop these resources. He said, ‘Minerals are under the ground. And it depends on our cooperation to ensure that the Cambodian people can get their benefits from the huge income from the exploitation of these natural resources.’

“Prime Minister Hun Sen considers the natural resources of the country as a new treasure that can contribute to the potential of the economy. He added that natural resources as well as agriculture, the garment and the construction sectors, and tourism can contribute to the development of the economy of the country.

“The Prime Minister stressed, ‘If Cambodia has the opportunity to explore its mineral treasures, Cambodia will use the income from it responsibly for the sake of the nation.’

“In his speech, that strongly criticized Global Witness, Mr. Hun Sen called on the participants to share their knowledge in order to help the government to maximize the financial benefits from this sector, to develop the country and to reduce poverty.

“A senior expert in mineral exploration of the World Bank, Mr. Craig Andrews, told the Phnom Penh Post that this sector will provide benefits to the country if related regulations and taxes are properly enforced, and correctly aimed at the important points, before the exploration begins.

“He suggested that Cambodia should not follow Australia regarding the collection of high taxes from the profits of the exploration, saying that the exploration in Australia and in Cambodia requires policies that are different.

“Mr. Craig Andrew said that a policy to collect low taxes from the exploration, and the stability of the country, will help Cambodia to attract foreign investors.

“According to the economic and mineral exploration expert Roderick Eggert, the developing exploration sector that can be taken as models of international success are that of Chile and of Botswana.

“He said, ‘Cambodian is starting as a blank project. The country has the chance to do the right things to get benefits from other countries. He added that mineral exploration companies are paying attention to transparency and openness.’” Phnom Penh Post [Khmer Edition], Vol.1, #180, .275.2010

This article was first published by The Mirror, [4] Vol. 14, No. 666 - Thursday, 27.5.2010
Have a look at the last editorial - you can access it directly from the main page of The Mirror. [4]

Norbert Klein is the Editor of The Mirror [5] – The Mirror is a daily comprehensive summary and translation of the major Khmer language press - More about The Mirror [6]