The Ministry of Industry and Trade (MoIT) and the Norwegian Embassy in Vietnam jointly held a seminar to introduce the Extractive Industries Transparency Initiative (EITI) in Hanoi on Dec. 10.
Speaking at the seminar, Dr. Samuel R. Bartlett from the EITI International Secretariat, said that EITI was first announced at the Conference on Sustainable Development in Johannesburg , South Africa , in 2002.
Under the initiative, each country sets up a group of representatives of ministries, businesses, civil and non-governmental organisations to supervise the government’s spending in order to ensure that incomes from natural resources are used for proper purposes, bringing benefits to the community.
The supervision group makes an EITI report based on over 20 criteria and then presents it to the public.
According to Norwegian Ambassador to Vietnam Stale Torstein Risa, the EITI is a transparent and effective natural resource management tool. However, he noted that the implementation of the initiative is facing many difficulties relating to benefit groups.
Norway , a leading country in implementing EITI, wants the Vietnamese government to understand more about the benefits of EITI so as to join the initiative, he said.
MoIT Deputy Minister Nguyen Nam Hai affirmed that sustainable development and transparency of the extractive industry are very important for the country’s sustainable and comprehensive economic development.
On July 1, 2011, Vietnam ’s Mineral Law with regulations in line with the EITI objectives will come into effect, he said.
Appraising the efficiency of EITI, Hai said that foreign countries’ experiences in implementing EITI will help the ministry better manage the extractive industry.
At present, 33 countries are implementing EITI but only five, including Azerbaijan , Mongolia , Timor Leste, Ghana and Liberia , have been recognised as meeting the EITI criteria. Indonesia is the only nation in the Southeast Asian region that is implementing the initiative./.
Speaking at the seminar, Dr. Samuel R. Bartlett from the EITI International Secretariat, said that EITI was first announced at the Conference on Sustainable Development in Johannesburg , South Africa , in 2002.
Under the initiative, each country sets up a group of representatives of ministries, businesses, civil and non-governmental organisations to supervise the government’s spending in order to ensure that incomes from natural resources are used for proper purposes, bringing benefits to the community.
The supervision group makes an EITI report based on over 20 criteria and then presents it to the public.
According to Norwegian Ambassador to Vietnam Stale Torstein Risa, the EITI is a transparent and effective natural resource management tool. However, he noted that the implementation of the initiative is facing many difficulties relating to benefit groups.
Norway , a leading country in implementing EITI, wants the Vietnamese government to understand more about the benefits of EITI so as to join the initiative, he said.
MoIT Deputy Minister Nguyen Nam Hai affirmed that sustainable development and transparency of the extractive industry are very important for the country’s sustainable and comprehensive economic development.
On July 1, 2011, Vietnam ’s Mineral Law with regulations in line with the EITI objectives will come into effect, he said.
Appraising the efficiency of EITI, Hai said that foreign countries’ experiences in implementing EITI will help the ministry better manage the extractive industry.
At present, 33 countries are implementing EITI but only five, including Azerbaijan , Mongolia , Timor Leste, Ghana and Liberia , have been recognised as meeting the EITI criteria. Indonesia is the only nation in the Southeast Asian region that is implementing the initiative./.
