Day: March 21, 2024

Hanoi: The Vietnam Geological Department (VGD) and the US Department of State's Bureau of Energy Resources partnered to host a technical training session on economic geology and mineral resource reserve valuation methods in Hanoi on March 21. This event was within the framework of a Memorandum of Understanding previously signed by the both sides. Speaking at the session, VGD Deputy Director Le Quoc Hung said Vietnam possesses around 60 different types of mineral resources across over 5,000 mines and exploitation sites, ranking second globally in terms of rare earth reserves. The session aims to equip the Vietnamese mining officials with information and knowledge on rare earth elements, particularly their integration into the global supply chain up to international practices, he added. Sharing his insights on the prospects of the rare earth market, David Bird, a mining valuation expert from Deloitte's mining consulting group in the US, said the demand for this mineral is projected to surge significant in t he coming decade, driven by the growing use of rare earth permanent magnet (REPM) in electric vehicles, wind turbines, and other purposes. Notably, this will translate into increased demand for rare earth elements such as neodymium REO and magnetic praseodymium. The session explored key areas such as the rare earth supply chain and market development strategies, economic geology fundamentals, asset valuation methods, ownership rights and financial regimes. Participants proposed solutions to rare earth development such as investing in eco-friendly processing technologies, issuing stable tax policies and fees for a minimum period of around 10 years, and ensuring transparent project implementation processes. On the occasion, a seminar on the sustainable development of Vietnamese rare earth resources was also held./. Source: Vietnam News Agency

Hanoi: The Vietnam Geological Department (VGD) and the US Department of State's Bureau of Energy Resources partnered to host a technical training session on economic geology and mineral resource reserve valuation methods in Hanoi on March 21. This event was within the framework of a Memorandum of Understanding previously signed by the both sides. Speaking at the session, VGD Deputy Director Le Quoc Hung said Vietnam possesses around 60 different types of mineral resources across over 5,000 mines and exploitation sites, ranking second globally in terms of rare earth reserves. The session aims to equip the Vietnamese mining officials with information and knowledge on rare earth elements, particularly their integration into the global supply chain up to international practices, he added. Sharing his insights on the prospects of the rare earth market, David Bird, a mining valuation expert from Deloitte's mining consulting group in the US, said the demand for this mineral is projected to surge significant in t he coming decade, driven by the growing use of rare earth permanent magnet (REPM) in electric vehicles, wind turbines, and other purposes. Notably, this will translate into increased demand for rare earth elements such as neodymium REO and magnetic praseodymium. The session explored key areas such as the rare earth supply chain and market development strategies, economic geology fundamentals, asset valuation methods, ownership rights and financial regimes. Participants proposed solutions to rare earth development such as investing in eco-friendly processing technologies, issuing stable tax policies and fees for a minimum period of around 10 years, and ensuring transparent project implementation processes. On the occasion, a seminar on the sustainable development of Vietnamese rare earth resources was also held./. Source: Vietnam News Agency

Hanoi: The Vietnam Geological Department (VGD) and the US Department of State's Bureau of Energy Resources partnered to host a technical training session on economic geology and mineral resource reserve valuation methods in Hanoi on March 21. This event was within the framework of a Memorandum of Understanding previously signed by the both sides. Speaking at the session, VGD Deputy Director Le Quoc Hung said Vietnam possesses around 60 different types of mineral resources across over 5,000 mines and exploitation sites, ranking second globally in terms of rare earth reserves. The session aims to equip the Vietnamese mining officials with information and knowledge on rare earth elements, particularly their integration into the global supply chain up to international practices, he added. Sharing his insights on the prospects of the rare earth market, David Bird, a mining valuation expert from Deloitte's mining consulting group in the US, said the demand for this mineral is projected to surge significant in t he coming decade, driven by the growing use of rare earth permanent magnet (REPM) in electric vehicles, wind turbines, and other purposes. Notably, this will translate into increased demand for rare earth elements such as neodymium REO and magnetic praseodymium. The session explored key areas such as the rare earth supply chain and market development strategies, economic geology fundamentals, asset valuation methods, ownership rights and financial regimes. Participants proposed solutions to rare earth development such as investing in eco-friendly processing technologies, issuing stable tax policies and fees for a minimum period of around 10 years, and ensuring transparent project implementation processes. On the occasion, a seminar on the sustainable development of Vietnamese rare earth resources was also held./. Source: Vietnam News Agency

Ninh Thuan: The south central province of Ninh Thuan has been undertaking measures to fight illegal, unreported and unregulated (IUU) fishing, along with 27 other coastal localities, in an efforts to have the European Commission (EC)'s 'yellow card' imposed on Vietnamese seafood removed soon. Trinh Minh Hoang, Vice Chairman of the provincial People's Committee said the committee has issued an action plan to ensure effective implementation of IUU fishing prevention and control. Coastal communes and wards have been asked to conduct communication campaigns to enhance vessel owners' and fishermen's awareness The province's fisheries sub-department has been required to guide vessel owners to carry out registration and licensing procedures for fishing operations and updating data into the National Fisheries Database (VNFishbase). Relevant units have been assigned to strictly control fishing vessels and notify those that do not maintain monitoring equipment as requested or sail beyond allowed boundaries at sea f or handling. They must ensure that all fishing boats, which are 15 metres in length, dock at designed ports to load and unload aquatic products as well as submit record of their fishery activities. The provincial border guard command and the provincial Department of Agriculture and Rural Development were asked to launch a peak campaign on inspecting and strictly dealing with IUU fishing and not allow fishing vessels that don't meet requirements to leave the ports. According to the local fisheries sub-department, all offshore boats have been granted licenses and the number of fishing vessels equipped with vessel monitoring system (VMS) reached 99.7%. Of which, all fishing vessels longer than 24 meters have VMS installed. Now there are no fishing vessels from Ninh Thuan violating foreign waters. In the southernmost province of Ca Mau, the border guard force has strengthened collaboration with relevant agencies and local authorities to promote dissemination to persuade fishermen to follow regulations on fishi ng. According to the Border Guard Command of Ca Mau province, since February 26, it has detected and imposed administrative fines on three cases and seven vessels for violating rules on exploiting aquatic resources. From the beginning of 2024, border guard stations in the province have worked with local administrations to organise more than 20 dissemination sessions, attracting more than 2,500 people. They helped raise awareness of fishermen in complying with regulations on fishing, contributing to maintaining social order and safety and protecting aquatic resources in maritime border areas./. Source: Vietnam News Agency

Ninh Thuan: The south central province of Ninh Thuan has been undertaking measures to fight illegal, unreported and unregulated (IUU) fishing, along with 27 other coastal localities, in an efforts to have the European Commission (EC)'s 'yellow card' imposed on Vietnamese seafood removed soon. Trinh Minh Hoang, Vice Chairman of the provincial People's Committee said the committee has issued an action plan to ensure effective implementation of IUU fishing prevention and control. Coastal communes and wards have been asked to conduct communication campaigns to enhance vessel owners' and fishermen's awareness The province's fisheries sub-department has been required to guide vessel owners to carry out registration and licensing procedures for fishing operations and updating data into the National Fisheries Database (VNFishbase). Relevant units have been assigned to strictly control fishing vessels and notify those that do not maintain monitoring equipment as requested or sail beyond allowed boundaries at sea f or handling. They must ensure that all fishing boats, which are 15 metres in length, dock at designed ports to load and unload aquatic products as well as submit record of their fishery activities. The provincial border guard command and the provincial Department of Agriculture and Rural Development were asked to launch a peak campaign on inspecting and strictly dealing with IUU fishing and not allow fishing vessels that don't meet requirements to leave the ports. According to the local fisheries sub-department, all offshore boats have been granted licenses and the number of fishing vessels equipped with vessel monitoring system (VMS) reached 99.7%. Of which, all fishing vessels longer than 24 meters have VMS installed. Now there are no fishing vessels from Ninh Thuan violating foreign waters. In the southernmost province of Ca Mau, the border guard force has strengthened collaboration with relevant agencies and local authorities to promote dissemination to persuade fishermen to follow regulations on fishi ng. According to the Border Guard Command of Ca Mau province, since February 26, it has detected and imposed administrative fines on three cases and seven vessels for violating rules on exploiting aquatic resources. From the beginning of 2024, border guard stations in the province have worked with local administrations to organise more than 20 dissemination sessions, attracting more than 2,500 people. They helped raise awareness of fishermen in complying with regulations on fishing, contributing to maintaining social order and safety and protecting aquatic resources in maritime border areas./. Source: Vietnam News Agency

Dong Nai: The southern province of Dong Nai targets some 10,000 units of social housing built by 2025, the provincial Department of Construction said at a meeting on March 21. To date, the provincial People's Committee has given in principle approval to five projects with some 9,000 apartments. In 2024, the province will begin construction on the projects and complete more than 710 units of social housing, it said, adding seven others will be kicked off while nearly 980 units will be accomplished in 2025. Acting Chairman of the provincial People's Committee Vo Tan Duc said over 1,000 hectares of land have been set aside for social housing while localities have proposed to develop 12 projects. However, sluggish legal procedures regarding bidding as well as investment policy appraisal and adjustment have affected construction progress. The Department of Planning and Investment is responsible for the issue, he stated, asking localities to work with competent departments and agencies to complete bidding proce dures and kickstart construction for the approved projects. Besides, the Department of Planning and Investment must support investors to complete project adjustment procedures so that they can carry out social housing projects soon. Dong Nai is now home to 31 industrial parks, attracting investments from 44 countries and territories. Some 400,000 workers are in need of social houses while the figure by 2025 is 450,000./. Source: Vietnam News Agency

Dong Nai: The southern province of Dong Nai targets some 10,000 units of social housing built by 2025, the provincial Department of Construction said at a meeting on March 21. To date, the provincial People's Committee has given in principle approval to five projects with some 9,000 apartments. In 2024, the province will begin construction on the projects and complete more than 710 units of social housing, it said, adding seven others will be kicked off while nearly 980 units will be accomplished in 2025. Acting Chairman of the provincial People's Committee Vo Tan Duc said over 1,000 hectares of land have been set aside for social housing while localities have proposed to develop 12 projects. However, sluggish legal procedures regarding bidding as well as investment policy appraisal and adjustment have affected construction progress. The Department of Planning and Investment is responsible for the issue, he stated, asking localities to work with competent departments and agencies to complete bidding proce dures and kickstart construction for the approved projects. Besides, the Department of Planning and Investment must support investors to complete project adjustment procedures so that they can carry out social housing projects soon. Dong Nai is now home to 31 industrial parks, attracting investments from 44 countries and territories. Some 400,000 workers are in need of social houses while the figure by 2025 is 450,000./. Source: Vietnam News Agency