The Regulatory Framework and Minerals Development in Vietnam: An Assessment of Challenges and Reform

Abstract

This paper aims to identify the key components of a modern mining regulatory framework and examines the extent to which the Vietnamese context reflects these characteristics. Through detailed observation of two research locations in Vietnam—Phuoc Son and Bong Mieu—the paper investigates how national policy operates at a local level. Findings show that, over the past decade, the Vietnamese Government has initiated substantial reforms to the regulatory frameworks governing mining, with the central objective to attract foreign direct investment (FDI). However, it has become apparent that these reforms have numerous deficiencies and loopholes that have led to a range of unintended economic, social and environmental consequences. To cope with challenges such as rent-seeking, limited capacities and capabilities of government staff, failure of institutions and neglect of local communities, policy makers will need to think differently and strategically about the mining industry and how regulations are implemented. Only by addressing these weaknesses will the path be paved for the sustainable growth of Vietnam’s mining industry into the future.

Analysis and Measurement of Barriers to Green Transformation Behavior of Resource Industries

“…Thus, the investment is more, and the risk is higher. For implementing such a complex system project, government promotion, market compulsion, and public support are needed, besides the active participation of enterprises [ 30 , 31 ]. Since the practice of the green transformation at the level of resource industries in China has been limited and the effect of the practice varies significantly, it is necessary to systematically analyze the problems associated with the evolution of green transformation behaviors of resource industries, and hence to eliminate the barriers to the green transformation behaviors of resource industries.…”

Gospodarka Surowcami Mineralnymi - Mineral Resources Management

“…Due to such importance of natural resources, the Vietnamese Government has promoted policies that help this industry to obtain the long-term benefits to the national budget instead of only contributing to short-term revenue. Significant reforms on the juridical aspect of mining management have created more capital for investment, but these reforms include defects and loosen that cause a lot of undesirable consequences on economy, society and environment (Nguyen et al 2019;Sokol 2020).…”