sharing in governance of extractive industries
DRC Oil Minister, Aime Ngoie Mukena declared that a new law on hydrocarbon was presented on 10/02/2017; it gives Government the responsibility to explore and assess the country's oil potential; he added that it offered guarantees for protected areas. His Home Affairs colleague on the same occasion issued a warning against anyone who would interfere with Government's efforts to validate its hydrocarbon potential.
Judicious stewardship of rents from natural resources in general and oil and gas in particular has great potential to reduce poverty and create conditions for sustainable development but this hasn't happened in the DRC whose profits from copper and gold haven't helped to diversify its economy. The country annually spends over USD2 billion to import food, has poor road infrastructure and imports 95% of the manufactured goods it consumes.
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