Speaking during the First Extraordinary Session of the 10th National Assembly on July 7, Santiphab responded to lawmakers' questions on public finance management, modernization, public debt, and the implementation of state and private investment projects.
He said lawmakers had expressed concern over the monitoring of land concessions, mining projects, and smart city developments, particularly whether revenues from these projects are being collected in accordance with the law.
According to the minister, 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, resulting in revenue leakages and overlapping concession areas.
To address the problem, 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. Although mineral inspections are already conducted at designated border checkpoints, 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 work with relevant agencies to improve mineral verification at mine sites before exports are approved.
Santiphab said the ministry will also strengthen project monitoring before investment approval in coordination with relevant sectors to ensure effective revenue management throughout the investment process.
He called on 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.