The Philippines has received recognition for its global transparency initiative, which covers the gas, oil, and mining industries. The potential that these industries possess has led the country’s Finance secretary to see them as the economy’s possible third leg of growth. The nation received the award for its Extractive Industries Transparency Initiative efforts on February 24th.
Cesar V. Purisima, the country’s Finance Secretary, noted that further implementation of the EITI may leverage responsible resource extraction that can help spur development. It is also planned that EITI will continue empowering people to ask the correct questions, which will be answered through open data. This is in hopes that this will build trust in institutions and apply more pressure towards overall improvement.
