Request: Improve the understanding and awareness regarding law in enterprises in the field of mineral exploitation rights auction in Vietnam

Request: Improve the understanding and awareness regarding law in enterprises in the field of mineral exploitation rights auction in Vietnam

In recent times, the implementation of auctions for mineral mining rights has seen positive developments, leveraging the potential value of minerals and significantly increasing state budget revenue in Vietnam. However, auction results in some localities have shown unusual factors such as: bids progressing through many bidding rounds, prolonged auction organization time, and bid prices skyrocketing (many times higher than the starting price, with cases where the winning bid alone was much higher than the market price of similar products).

This has led to many organizations and individuals, after winning the auction, being unable to implement the mineral mining project and forfeiting the deposit; negatively affecting local economic security and social order. To ensure the effectiveness of the auction of mineral mining rights, the Ministry of Natural Resources and Environment of Vietnam requests the People's Committees of provinces and cities under central authority to implement several specific contents as stipulated in Official Dispatch 7438/BTNMT-KSVN as follows:

Promote the dissemination and enhancement of legal understanding and awareness of enterprises in the field of auctioning of mineral mining rights.

Particularly, in auctions, it is necessary to thoroughly disseminate related regulations to organizations and individuals participating in the auction to prevent misunderstanding the auction of mineral mining rights as a mine purchase auction; clearly inform organizations and individuals participating in the auction that the winning bid is only part of the obligation enterprises have to pay to the state budget to obtain the right to exploit minerals; to bring minerals into the hands of users, the exploiting organization or individual must invest in implementing the mining project with various expenses such as mining, processing, transportation, consumption, and must also fulfill other related taxes and fees such as resource tax, environmental protection fees...

See more details in Official Dispatch 7438/BTNMT-KSVN issued on October 24, 2024.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE