Report says Cambodian mining, oil sector corrupt

The corrupt elite of Cambodia, one of the world’s most impoverished nations, has laid the groundwork for siphoning off vast profits from a coming boom in mining and oil exploitation, a nongovernment organization said Thursday.

Britain-based Global Witness said that rights to exploit the resources have been allocated behind closed doors by a small number of power brokers around Prime Minister Hun Sen and other senior officials. The report, titled “Country for Sale,” said “the same political elite that pillaged the country’s timber resources has now gained control of its mineral and petroleum wealth.”
Over the past few years, Cambodia has been buzzing with excitement — and anxiety — about an oil discovery by U.S. energy giant Chevron Corp. off the southwestern coast. There have also been discoveries of other minerals including bauxite, iron ore, copper and chromium, while onshore oil reserves are also being explored.

Some estimate that in coming years Cambodia may reap some $1 billion in annual oil revenues, enough to cut its ties to foreign development aid if the funds are properly utilized.

But others have raised concerns that rather than pulling Cambodia out of its “beggar status,” the revenue windfall will further fuel already rampant corruption. The Berlin-based Transparency International ranked Cambodia 166 out of 180 on its 2008 world corruption index.

AP