DRC Natural resources revenues still very low

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By Josephine Lukoya

The Congolese Minister of Finance Matata Ponyo, has acknowledged that the contribution of natural resources to government revenue remains low in the DRC, diverging figures.

The International Monetary Fund (IMF) and the Congolese government Wednesday, 20 March organized an international meeting in Kinshasa, on the management of natural resources in Sub-Saharan Africa.

Minister Matata said the Government is working hard to improve this situation.

“The DRC has a bst law of investments among the Liberals. In addition, a mining code and a forestry code, revised with the support of our partners, have applied since 2002. The hydrocarbons code is available for adoption in Parliament. ”

The mining law, he said, embodies the principle of opening the sector to private investment and “establishes principles for speed, objectivity and transparency in the procedure of granting of mining and quarrying and a special tax and customs “.

The Government has taken several other initiatives, said Matata Ponyo, citing “the accession of the DRC to the Extractive Industries Transparency Initiative (EITI) since 2005, systematic – through a decree – the publication of contracts signed by the partners in the extractive sectors.”

Congolese wealth often arouse covetousness, also stressed Matata Ponyo. They are often in Africa led to several tragedies. But he believes it is inevitable and there is “no correlation between a country’s natural resources and disasters found there.”

For two days, participants in this conference should share their knowledge and ensure that the exploitation of resources from forests, oil and mining sectors lead to economic welfare.

The people who spoke at the opening session, called for more transparency in the management of these resources and better policies for mining. They also called on states to proceed with the conversion of the assets of the basement in real wealth and savings for future generations.

According to the Director for IMF Africa, Antoinette Saley, economic management in low income countries poses enormous challenges. These challenges, she said, are related to negotiations with international companies exploiting natural resources and the establishment of adequate institutional capacity.

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