|
New laws drafted to regulate nation’s gas trade
The Ministry of Industry and Trade (MoIT) said it is drafting a new government decree regulating gas trading activities, driven by market mechanisms and with new standards for safety and fair competition.
The new decree will impose strict punishments for gas trading violations that have angered consumers, particularly the trade of fake gas and illegal gas packing, the MoIT’s Deputy Minister Le Danh Vinh said at a forum for businesses trading in the commodity, which was held on Dec. 11.
The deputy minister warned local business of the increasing presence of foreign gas traders in Vietnam , suggesting that they should improve their competitiveness by using advanced equipment and expanding their distribution networks.
According to the MoIT, there are more than 70 businesses trading in gas in Vietnam , with over 5,000 associated agents across the country.
However, local gas producers account for only 30 percent of the country’s gas market, which has grown at an annual average rate of 10 percent.
Vietnam ’s demand for gas currently stands at more than 950,000 tonnes per year and is estimate to surpass 1 million tonnes by 2010.
VNA
|
