Vientiane: The Ministry of Finance is strengthening oversight of mining concessions and private investment projects to curb revenue leakages, improve transparency, and ensure state revenues are collected in full, Deputy Prime Minister and Minister of Finance Santiphab Phomvihane told the National Assembly.
According to Lao News Agency, Santiphab addressed lawmakers during the First Extraordinary Session of the 10th National Assembly on July 7, responding to questions on public finance management, modernization, public debt, and the implementation of state and private investment projects. Lawmakers raised concerns over the monitoring of land concessions, mining projects, and smart city developments, particularly questioning whether revenues from these projects are being collected in accordance with the law.
Santiphab indicated that the central government has approved 407 mining concession projects, generating more than US$139 million in concession fee revenue in 2025. However, he acknowledged that revenues remain below their full potential because concession data and revenue collection are not yet managed through a centralized digital system, leading to revenue leakages and overlapping concession areas.
To address the issue, the Ministry of Finance is integrating concession information into a centralized database to improve monitoring and strengthen the collection of lease and concession fees. The ministry is also tightening controls over mineral exports, as authorities continue to detect inaccurate declarations involving mineral types, export volumes, ore grades, and associated valuable minerals, resulting in significant losses in state revenue.
To strengthen enforcement, the ministry is establishing mineral quality inspection offices at all international border checkpoints and will collaborate with relevant agencies to improve mineral verification at mine sites before exports are approved. Santiphab stated that the ministry will also enhance project monitoring before investment approval in coordination with relevant sectors to ensure effective revenue management throughout the investment process.
He urged ministries, local authorities, and National Assembly members to support the implementation of Prime Minister's Order No. 46/PM on combating illegal mining and Party Central Committee Secretariat Order No. 1/CCS on strengthening mineral resource management to improve compliance and protect state revenue.