NRGI set out to collect total oil, gas and mining revenue data for the countries included in the Resource Governance Index to find out how many dollars flow to governments that mismanage the handling of their natural resources.
In most countries, national governments negotiate extraction contracts with companies and collect the revenues, but it is those closest to the extraction site that see their physical and economic landscape change most dramatically.
Based on the key messages in NRGI’s briefing "Owning Up," NRGI and Global Witness recommend seven steps that stakeholders in Myanmar could take to implement the EITI beneficial ownership requirements in a way that increases the potential for concrete improvements in natural resource governance.
This is an important year for Myanmar. With expectations so high, the new government is under enormous pressure to prove that it can transform the more than 20 trillion kyats (USD 17 billion) budgeted into tangible benefits for the people of Myanmar. This will not be easy, yet significant reforms are already underway to help achieve this objective.
With Andrew Bauer from the Natural Resource Governance Institute and Eaimt Phoo Phoo Aung from the British Embassy in Myanmar. Filmed at the NRGI-Central European University School of Public Policy course Reversing the Resource Curse: Theory and Practice in April 2016.
Myanmar’s national government collects much of the billions of dollars generated by extractives each year, primarily through its state-owned economic enterprises. But how might that revenue be differently shared between regions of the country?
Myanmar’s natural resources, including deposits of oil, natural gas, gemstones and other minerals, have attracted growing interest from foreign and domestic investors at a time of regulatory and institutional change.
Nowhere is the importance of management of Myanmar’s state-owned enterprises clearer than in the oil and gas sector. This industry has the potential to be a driver of economic growth, but is prone to volatility and corruption.