Actually, for a process of development in some countries, they always need and rely on their own natural resources. However, the experts said that whenever there are abundances of natural resources; it may lead to forgetting of the economic operation then the economic growth will decrease. Besides, the revenue which originates from the natural resources also may trigger the gaps of the nations and committing of corruption if without transparent governing. The experts added that natural resources may be an opportunity to change the poor economy toward a splendid economy if the states have a comprehensive ability in the application of effective management strategy.
For those nations which are plenty of natural resources but there have no adequate ability to administer or control them then they would be able to seek assistance from the international communities. We see that the World Bank which is one out of institutions who provides facilitation for the developing countries while they ask for help. This institution used to publish the extractive industries transparency initiatives in its program so that to help the poor countries aiming at expanding development, prevention of corruption as well as expression of the participation in the management of the government, civil society industries and all stakeholders to get involved in enabling the effective and transparent natural resources management.
The international communities are able to assist the poor countries within being rich in natural resources to have a fair contract with the private company in the activity of exploring natural resources. The statute for natural resources is a set of principles for citizens and government including guidelines for information accessibility, inventory policy, and contract, transparency of revenue and bidding and improvement of controlling on how to use natural resources effectively.
To inspire the government to hold its accountability, we need to have a firm group of the public that consists of different diversity and components. They must have knowledge of natural resources management. The transparent management of natural resources would not be achievable if without precise and independent media outlets. Therefore, the civil society would help to build the group of the public as a bridge between community people, private sectors, government, and media focused on information flow.
There are some countries in the world that are rich natural resources and succeeded in revenue control including Oman, Chile, Malaysia, and Botswana.
The natural resources are the great input for changing and improvement of the nation’s economical growth unless the leaders have high dedication and goodwill to manage them well for sustainable development in integrity manners.
Being able to exploit different options of personal economic growth is very important. We cannot always rely on an income insurance, we need to stand up for our development.
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