Mekong Eye

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Revenue Increases Fourfold in Mining Sector

Non-tax revenue collected from the mining sector increased more than fourfold in 2015 compared with the year before, according to figures released on Wednesday by the Ministry of Mines and Energy. Meng Saktheara, a ministry spokesman, said non-tax revenue rocketed to about $17.25 million in 2015 from just over $4 million in the previous year. These revenues include royalties, land rent, fines and penalties, administration charges and signature bonuses.

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Failure to engage local communities is costing investors big money, according to a new analysis

Conflicts between local communities in developing countries and governments and corporations seeking to exploit natural resources pose a serious threat to investors’ bottom lines, according to new research. UK-based consultancy TMP Systems studied 262 agriculture, energy and mining sector disputes with local populations in developing countries and found that 67 percent of the time those conflicts had a materially significant impact on investors. Land conflicts and human rights abuses in resource-rich developing countries from Southeast Asia to Latin America to Africa have become more and more common amidst growing demand for commodities like palm oil, soy and beef.

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Work starts on Nghi Son 2 thermal power plant

Construction began on the Nghi Son 2 Thermal Power Plant at the Nghi Son Economic Zone in the central province of Thanh Hoa on September 18. The plant is being built at a total cost of 2.3 billion USD, with 25 percent contributed by a joint venture between Japan’s Marubeni Group and the Republic of Korea Electric Power Corporation (Kepco) and the remaining coming from foreign banks.

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