With the Law on Geology and Minerals 2024 coming into effect on July 1, 2025, the sector is expected to enter a new era of transparency, efficiency and sustainability, but it requires collective commitment from regulators, enterprises and the community...
Experts said taxing profits would be ideal, but is too challenging due to household businesses'' lack of accounting systems. Most operate informally, without financial statements or detailed cost tracking, making profit figures difficult to verify and vulnerable to manipulation.
One catalyst behind this trend is unverified information about potential administrative changes — notably plans to merge districts or upgrade rural areas into provincial centres.
Economists and trade experts call for a national-level trade risk management system to help the government and enterprises cope with economic turbulence.
The country’s proactive approach to economic diversification, green transition, and digital transformation ensures that it remains a competitive destination for global investors.
