Assessment of Vietnam’s Mineral Resources Allocation from Economic and Policy Perspectives

Abstract

Vietnam is assessed to own a diverse and abundant mineral resources with over 5,000 mines and ore spots of 60 different minerals. The mining industry is therefore one of the key economic sectors and makes a great contribution to the socio-economic development of the country. The paper focuses on analyzing the current status of mineral resource allocation by economic sector, by period of time and the allocation of mineral revenue, and then assessing mineral resource allocation of Vietnam in the commerical and policy aspect. Based on these analysis, the paper proposes three groups of measures to support Vietnam allocate more effectively this resource including: identifying clearly and fully mineral resource allocation objectives, developing allocation policies based on market economy principles and constructing allocation policies equally, publicly and transparently.