The draft Law on Oil and Gas (amended) will be submitted to the National Assembly for consideration and decision at the First Extraordinary Session, 16th National Assembly.
The Government's submission to the National Assembly Standing Committee clearly states that ensuring solid national energy security is the foundation, the important premise for national development, and an important part of national security.
Along with that, energy development is given the highest priority to meet the requirement of continuous growth of over 10% in the coming period.
It is necessary to focus on building and developing the energy industry, including the automotive oil and gas industry, promoting domestic internal resources, and the legal system must become an advantage for domestic enterprises.
The development of the draft Law on Oil and Gas (amended) must meet the requirement of putting national and ethnic interests first, first of all, associated with building an independent and self-reliant economy, ensuring macroeconomic stability, major balances of the economy, especially in energy.
In addition, it is necessary to effectively exploit resources and national sovereignty, including legal sovereignty, build an integrated institution, affirm Vietnam's position as a responsible country with the international community; strengthen state management capacity, promote decentralization, delegation of power, and delegation of power to avoid local interests of ministries and sectors.
The submission also clearly states that the purpose of promulgating the amended law is to improve practicality, ensure the synchronization and unity of the legal system in basic investigations on oil and gas and oil and gas activities, in accordance with international commitments and international oil and gas industry practices.
Ensuring basic investigation of oil and gas and oil and gas activities are safe for people and property, improving the efficiency of resource exploitation associated with environmental protection and climate change response.
Creating favorable conditions for basic investigation into oil and gas and oil and gas activities, minimizing difficulties, obstacles, overlaps, and inadequacies of the legal system.
Strengthen attracting foreign and private investment in the field of oil and gas exploration, exploration and exploitation in the context of increasingly difficult and complex oil and gas activities, especially in deep-water, offshore, and sensitive areas for national defense and security.
Develop science and technology, innovation in the oil and gas industry with the spearhead being self-reliant high-tech oil and gas services, and develop oil and gas services abroad.
Economic development associated with protecting the legitimate rights and interests of the nation at sea in accordance with international law, while contributing to maintaining a peaceful and stable environment at sea for socio-economic development of the country, in accordance with the Vietnam Strategy for Sustainable Marine Economic Development.
The Government's report also clearly states the viewpoint of building the draft Law on Oil and Gas (amended) to build breakthrough mechanisms and policies to promote the development of the energy industry, including the oil and gas industry;
Cutting and simplifying administrative procedures, strengthening decentralization, delegation of power, and delegation of power accompanied by strengthening inspection and supervision by state management agencies in basic investigations on oil and gas and oil and gas activities;
Create clear transparency, prevent corruption, wastefulness, and group interests in the management and implementation of oil and gas activities;
Ensure stability and non-retroactivity principles in the Oil and Gas Law to avoid obstacles that may occur in the process of implementing signed oil and gas contracts.
