(VOVWORLD) -Lawmakers debated the revised Petroleum Law on Wednesday.
 The National Assembly's plenary session on June 15, 2022. Photo: Doan Tan/VNA
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They agreed on the need to promote the industry potential for economic development as it has been the 2nd valuable resource after land.
Deputy Phan Duc Hieu from Thai Binh province shared the revision’s objective to attract more foreign investment at home and abroad in exploitation and exploration with harmonious interests between the state and investor.
Deputy Chairman of the Commission for Science, Technology and Environment of the National Assembly, Ta Dinh Thi, asked for incentives to lure strategic investors for source technology and advanced management skills on the basis of equality, mutual interests and respect of Vietnam’s national sovereignty and territorial integrity.
Currently, Vietnam is ranked 33rd out of 98 countries with oil production in 2021.
The deputies approved revisions to the Law on Cinema, Emulation and Commendation as well as the 2020 state budgeting finalization.