Development Issue Clause Samples

Development Issue. The extractive industries (mining, oil and gas), can provide high quality jobs, generate significant government revenue, attract private investment capital, and grow local enterprises, both within the sector and more broadly. However, many developing countries that are rich in natural resources face challenges in effectively governing and managing their extractive industries, often contributing to economic under- performance and increased corruption and conflict. Weak capacity of developing country regional and national governments to manage natural resources (through taxation, inspection and regulation, contract negotiation, revenue collection, and distribution) is a significant barrier to ensuring that developing countries make the most of the developmental and economic results of extractive operations in their countries for the benefit of their people.