Tuesday, March 25, 2008
PHNOM PENH, Mar 25, 2008 (Xinhua via COMTEX) More than 300 delegates from five continents are gathering here this week for a pioneering conference that aims to pinpoint ways developing countries like Cambodia can maximize their resource wealth to reduce poverty, an UNDP press release said Tuesday.
"This conference is well-timed as Cambodia and other developing countries seek ways to develop and manage newly found resource wealth to bring the greatest benefits to their people," said Te Doung Tara, Director General of the Cambodian National Petroleum Authority, which is co-hosting the conference along with UNDP, the Government of Norway and Cambodia's Supreme National Economic Council.
"Many assume that the discovery of oil and gas reserves automatically translates into greater prosperity," said Jo Scheuer, UNDP Cambodia Country Director.
"Unfortunately, this is not the case. Economic growth in resource-rich developing countries is on average two to three times lower than in resource-poor countries."
"We will be pinpointing methods that developing countries can and have used to channel resource wealth in ways that maximize benefits for their citizens, and create a legacy of opportunities for future generations," Scheuer explained.
The March 26-28 conference, "Fueling Poverty Reduction with Oil and Gas Revenues - Comparative Country Experiences," will provide a forum for developed and developing countries to share international best practices for development and management of their petroleum sectors, the press release said.
The two and a half day conference will comprise a series of technical workshops with a focus on pre-production and production phases, as well as the socio-economic consequences for developing countries, it said.
The event, the first of its kind in Cambodia, also aims to broaden public discussion on the development of the petroleum sector and management of revenues for sustainable socio-economic development, following more than two years of discussions between the Cambodian government and its development partners, it added.
PHNOM PENH, Mar 25, 2008 (Xinhua via COMTEX) More than 300 delegates from five continents are gathering here this week for a pioneering conference that aims to pinpoint ways developing countries like Cambodia can maximize their resource wealth to reduce poverty, an UNDP press release said Tuesday.
"This conference is well-timed as Cambodia and other developing countries seek ways to develop and manage newly found resource wealth to bring the greatest benefits to their people," said Te Doung Tara, Director General of the Cambodian National Petroleum Authority, which is co-hosting the conference along with UNDP, the Government of Norway and Cambodia's Supreme National Economic Council.
"Many assume that the discovery of oil and gas reserves automatically translates into greater prosperity," said Jo Scheuer, UNDP Cambodia Country Director.
"Unfortunately, this is not the case. Economic growth in resource-rich developing countries is on average two to three times lower than in resource-poor countries."
"We will be pinpointing methods that developing countries can and have used to channel resource wealth in ways that maximize benefits for their citizens, and create a legacy of opportunities for future generations," Scheuer explained.
The March 26-28 conference, "Fueling Poverty Reduction with Oil and Gas Revenues - Comparative Country Experiences," will provide a forum for developed and developing countries to share international best practices for development and management of their petroleum sectors, the press release said.
The two and a half day conference will comprise a series of technical workshops with a focus on pre-production and production phases, as well as the socio-economic consequences for developing countries, it said.
The event, the first of its kind in Cambodia, also aims to broaden public discussion on the development of the petroleum sector and management of revenues for sustainable socio-economic development, following more than two years of discussions between the Cambodian government and its development partners, it added.
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