The Vietnam Chamber of Commerce and Industry (VCCI) and the Consultancyon Development Institute (CODE) has announced a study named, “ExtractiveIndustries Transparency Initiative (EITI) and Vietnam 's Ability toParticipate in the Initiative”.
Apart fromsupervising current documents and policies of the State and collectingother information and expert consultancy in this field, the studypublicised its direct interviews with representatives from 21 statemanagement agencies and several enterprises which operate in developingmineral resources and oil and gas.
It also sent questionnaires to 16 other businesses to collect their information and opinion on participating in EITI.
Under the study, Vietnam has built an adequate document system oflegal procedures on mining activities and oil and gas exploitation.However, it also showed that there are gaps between legal regulationsand reality in management works, between content of documents andimplementation of financial obligation in mining activities.
Surveyed state management agencies, exploitation businesses and socialorganisations agreed that it is necessary to further enhancetransparency and information disclosure in this field.
Most related bodies such as the Ministries of Finance, Industry andTrade, Natural Resources and Environment, the State Audit Office andmajor businesses such as Vietnam National Coal Mineral IndustriesHolding Corporation Limited and Vietnam National Chemical Group areexpecting Vietnam ’s participation in the EITI in order to create amore transparent environment in the mining sector.
The study, “Extractive Industries Transparency Initiative (EITI) andVietnam 's Ability to Participate in the Initiative” recommended thatthe EITI implementation should only be conducted in major firms and forthe fields of oil and gas, coal and titanium.
Through the study, several businesses said that they are willing to takepart in the EITI as this will benefit their business.
The participation scope in the EITI will be expanded to smallerenterprises and other mining activities in the near future, when Vietnamhas sufficient experience and ability in implementing the initiative.-VNA
Apart fromsupervising current documents and policies of the State and collectingother information and expert consultancy in this field, the studypublicised its direct interviews with representatives from 21 statemanagement agencies and several enterprises which operate in developingmineral resources and oil and gas.
It also sent questionnaires to 16 other businesses to collect their information and opinion on participating in EITI.
Under the study, Vietnam has built an adequate document system oflegal procedures on mining activities and oil and gas exploitation.However, it also showed that there are gaps between legal regulationsand reality in management works, between content of documents andimplementation of financial obligation in mining activities.
Surveyed state management agencies, exploitation businesses and socialorganisations agreed that it is necessary to further enhancetransparency and information disclosure in this field.
Most related bodies such as the Ministries of Finance, Industry andTrade, Natural Resources and Environment, the State Audit Office andmajor businesses such as Vietnam National Coal Mineral IndustriesHolding Corporation Limited and Vietnam National Chemical Group areexpecting Vietnam ’s participation in the EITI in order to create amore transparent environment in the mining sector.
The study, “Extractive Industries Transparency Initiative (EITI) andVietnam 's Ability to Participate in the Initiative” recommended thatthe EITI implementation should only be conducted in major firms and forthe fields of oil and gas, coal and titanium.
Through the study, several businesses said that they are willing to takepart in the EITI as this will benefit their business.
The participation scope in the EITI will be expanded to smallerenterprises and other mining activities in the near future, when Vietnamhas sufficient experience and ability in implementing the initiative.-VNA
