Business and Economy
EITI roadshow set to further promote transparency
!["DOF is also overseeing the Philippines' validation as an EITI-implementing country. [Wikipedia Takes Manila participant], CC BY-SA 3.0)](https://canadianinquirer.net/v1/wp-content/uploads/2017/07/WTMP_A-trio_a8_1.jpg)
Since President Rodrigo Duterte is firm in promoting transparency, Finance Secretary Carlos Dominguez noted that only full transparency can build trust among stakeholders.
He added that with full transparency, the public can be assured that businesses are run with integrity.
With this, the Department of Finance (DOF) is holding the Philippine Extractive Industries Transparency Initiative (PH-EITI) roadshow this month. The roadshow includes consultation workshops and multi-stakeholder forum.
Carrying the theme, “Extracting Value in Transparency: A Forum on Promoting Local Development through Sustained Disclosure and Dialogue”, this roadshow aims to inform the mining stakeholders on the developments in the country’s implementation of EITI’s global transparency standards in managing mineral resources.
Apart from the multi-stakeholder forum, the roadshow will have a workshop on the enhanced Environment and Natural Resource Data Management Tool (ENRDMT), an online reporting tool for LGUs.
The online reporting tool will showcase the LGUs’ projects, and disclosures on how they spend their budget or the money they have collected from the mining industry.
The DOF on Monday said this tool is yet to be tested. Thus, consultation workshops are really essential for the agency to determine the views of different sectors, including the indigenous people.
“DOF is also overseeing the Philippines’ validation as an EITI-implementing country.
During this validation process, we review the country’s progress and impact in implementing EITI’s international transparency standards in governance of the extractive sector,” said DOF Assistant Secretary Teresa Habitan.
For this month, the roadshow is scheduled in Manila, Baguio, Puerto Princesa, Cebu, Butuan and Davao.
The Philippines, meanwhile, will host the 38th EITI International Board Meeting in Manila on Oct. 25-26.
