Fostering Resource Development: Vietnam's Plan for Mineral Exploitation

Deputy Prime Minister Tran Hong Ha has outlined a comprehensive strategy for Vietnam's mineral sector with the signing of Decision No. 333/QD-TTg dated April 23.

This decision launches the implementation of the Plan for exploration, exploitation, processing, and use of minerals (2021-2030), with a vision extending to 2050.

Strategic Alignment and Focus

The Plan aligns with Prime Minister's Decision No. 866/QD-TTg (July 18, 2023), providing a framework for executing programs and projects essential to the long-term Mineral Planning strategy.

It emphasizes investment in mineral exploitation and processing, offering concrete steps to achieve its goals.

Relevant ministries, branches, and localities are assigned specific responsibilities, ensuring focus on priority areas such as national defense and security, transportation infrastructure, and public investment projects.

To ensure successful implementation of the Mineral Planning, the Plan adopts a multi-faceted approach. This includes continuous improvement of the regulatory environment to encourage investment in mineral projects, along with mechanisms to attract capital and stimulate investment in exploration, exploitation, and processing.

Additionally, a strong emphasis is placed on scientific and technological advancement, prioritizing research for improved management, advanced exploration techniques, and environmental sustainability.

The Plan also recognizes the importance of public awareness and training initiatives to promote responsible mineral stewardship, coupled with targeted capacity-building efforts.

Strengthening Oversight and Promoting Innovation

The Plan recognizes the need for enhanced regulatory frameworks to ensure environmental and labor safety standards are upheld in mineral activities. It advocates for robust regulations governing exploration and exploitation.

Additionally, the Plan underscores investment in research and development to boost technical expertise, formulate national standards for optimal mineral extraction, and maximize resource utilization across economic sectors.

Deputy Prime Minister Tran Hong Ha's decision signifies a commitment to sustainable mineral development. By outlining clear strategies and mobilizing resources, the Plan establishes a framework for responsible mineral exploitation and processing, positioning Vietnam to responsibly harness its natural resources for long-term economic and social benefit.