Vietnam feasibility study - EITI

cHaPTer Iv
TransParencY reGulaTIOns In vIeTnam
Iv.1 - DefInITIOn Of TransParencY
Transparency is considered as the principle
and goal of governance. The most obvious and
robust effects of transparency can be seen on
the economy, governance and politics (Oliver,
2004). Some studies suggest that transparency
is a Western concept. However, this concept
has a longer history and broader application
that does is not limited to a single race, faith or
nation. At the present, transparency can also
generate a competitive economic advantage
for a country or business.
Characteristic of governments, companies,
organisations and individuals of being open
in the clear disclosure of information, rules,
plans, processes and actions. As a principle,
public officials, civil servants, the managers
and directors of companies and organisations,
and board trustees have a duty to act visibly,
predictably and understandably to promote
participation and accountability.
(Transparency International, 2009)
Transparency in international organizations refers to the ability to access accurate information by the
public. For example, the WTO claims that international trade agreements must ensure three elements
to be transparent: information on laws, regulations or policies are widely publicized; all changes in
laws, regulations or policy are publicly announced; laws and regulations are consistently and equally
implemented through appropriate methods. According to the Multilateral Investment Agreement
(MIA), to ensure transparency, each country must publicize its’ legal regulations, related procedures
or administrative regulations that may effect on an agreement. OECD (2002) describes a transparent
business environment as an environment where economic agents have necessary information and
there is no asymmetric or hidden information. Transparency is considered as the result of two-way
exchanges of information between government and partners.
Many recent studies show that transparency not only mentions the quantity of information, but also
the content, scope, accuracy and timeliness of information that economic agents (people, business
or government) can access (Vishwanath & Kaufmann, 1999; Kaufmann & Kraay, 2002; Islam, 2003).
The Extractive Industries Transparency Initiative and the Implementation Perspective of Vietnam
45