That is one of the contents presented at the Workshop to collect opinions on the Draft Revised Petroleum Law organized by the National Assembly Economic Committee in coordination with the Ministry of Industry and Trade in Ho Chi Minh City on August 3.

At the seminar, Mr. Nguyen Quoc Thap, Chairman of the Vietnam Petroleum Association, said that the revised Petroleum Law needs to consider and supplement preferential policies such as adding regulations to end the exploration phase and move to the exploitation phase. , investors need to be given incentives to apply for changes to exploit… The draft also needs to mention the specific characteristics of oil and gas exploration and exploitation enterprises… because administrative procedures often incur costs. fees for investors. Furthermore, in mining activities, there are often situations of salvage mining, but in the draft there is no concept of salvage mining, dredge mining…

According to Vice Chairman of the National Assembly Nguyen Duc Hai, after 30 years, the Petroleum Law promulgated in 1993 has just been amended and supplemented. In particular, 6 requirements are guaranteed: One is to fully institutionalize major policies of the Party and State, especially Resolution 41 of the Politburo on “Strategic orientation for the development of Vietnam’s oil and gas industry until 2025 and vision to 2035”, Resolution 55 of the Politburo on “orientation of Vietnam’s National Energy Development Strategy to 2030, vision to 2045”.

Second is to increase transparency, towards sustainable development of the oil and gas industry. Third is to innovate the approach, ensuring that the Petroleum Law is a specialized law on investment in the oil and gas sector. Fourth, unify the principles of economic development but closely associated with protecting Vietnam’s legitimate rights and interests at sea and in accordance with international law, ensuring safety for people, property, and legitimate interests of Vietnam. investors when participating. Fifth is to carry out reforms in the direction of effectiveness, efficiency, decentralization, and clear delineation of the functions and tasks of the Government, the Prime Minister, the Ministry of Industry and Trade and relevant ministries and branches. Sixth, handle and remove limitations and obstacles in the law on oil and gas, improve the investment environment, and increase the attraction of resources from domestic and foreign economic sectors…