Attracting investment in exploration, extraction, processing, and use of Minerals in Nghe An Province, Vietnam

Attracting investment in exploration, extraction, processing, and use of Minerals in Nghe An Province, Vietnam (Internet image)

Resolution 245/2008/NQ-HDND provides solutions for attracting investment in exploration, extraction, processing, and use of minerals for the period 2009-2020 as follows:

- Create a friendly and equitable environment for managing investment in production and business with enterprises of all economic sectors, prioritizing the goal of serving businesses. Complete guidelines on procedures and licensing sequence for resource appraisal in a focused, uniform, clear manner with a defined resolution timeframe for investors.

- Establish special mechanisms to encourage the attraction of investment capital outside the state budget. Prioritize mineral activity licenses for large enterprises with financial and technological capacity to develop the mining and mineral processing industry.

- Mineral deposits and sites not listed in the national-scale planning are managed and licensed by the provincial level to enhance proactive management of resources, environmental protection, and actively attract investment from other economic sectors.

- No licenses for mineral activities will be issued to organizations and individuals without sufficient financial capacity and non-compliance with mandatory provisions of the Mineral Law; refrain from dividing mineral mines into small areas for small-scale exploitation licenses.

- Resolutely address the problem of illegal mineral exploitation in the area.

- Effectively protect unexploited mineral resource areas. Assist enterprises in protecting mineral resources in designated areas.

- Enhance human resource preparation for mineral activities in the area; train specialized technical staff in mining and geology; train highly skilled mining and ore-processing workers. Attract highly qualified personnel to participate in mineral activities and resource protection in the area.

- Publicly disclose mineral planning areas, licensed and managed mining areas, and prohibited mineral activity areas.

- Actively promote investment opportunities and introduce mineral potential in the area. Develop investment projects to promote mineral activities using budget capital to introduce and advise interested partners to invest in mining and mineral processing in Nghe An.

- Strictly prohibit the speculation of the rights to organize mineral exploitation.

- Restrict short-term mining licenses. Prioritize licensing for existing large-scale enterprises in the area.

More details can be found in Resolution 245/2008/NQ-HDND which comes into effect in Vietnam from December 30, 2008.

Ngoc Tai

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