|Largest city||Ho Chi Minh City|
|Ethnic groups||85.7% Kinh|
|Government||Socialist one-party state|
|General Secretary||Nguyễn Phú Trọng|
|President||Trương Tấn Sang|
|Prime Minister||Nguyễn Tấn Dũng|
|Chairman of National Assembly||Nguyễn Sinh Hùng|
|Viet Minh declareindependence fromFrance||2 September 1945|
|Fall of Saigon||30 April 1975|
|Reunification||2 July 1976|
|Current constitution||28 November 2013|
|Total||332,698 km2 (65th)|
|128,565 sq mi|
|GDP (PPP)||2016 estimate|
|GDP (nominal)||2016 estimate|
|Currency||đồng (₫) (VND)|
- According to statistics of the first six months of 2015, mining is the third biggest contributor to GDP and has high growth rate of 8.15%.
- Vietnam is endowed with a wide variety of mineral with over 5000 deposits of more than 60 types of minerals being discovered, including bauxite (7% of the world’s reserves), rare earths, tungsten, titanium, phosphate, coal and iron-ore, mineral construction materials.
- Vietnam is the third largest mineral producer in SE Asia. The country has a wide variety of mineral deposits however it is dominated by its coal production with 200 coal mines and total reserves of almost 8 billion tons.
- Vietnam currently produces zinc, nickel, bauxite, coal and manganese, and with the exception of coal, the majority of current mining projects in the country are small or medium in scope.
- The Vietnamese mining industry is dominated by the state-owned Vietnam Coal and Minerals Industries Corporation (Vinacomin), and has been preparing for a number of major new underground coal mine projects.
- The new Mining Law has been effective since 2012 including the Directive No 02/CT-TTg and Decree No 15/2012/ND-CP detailing the implementation of the mining law. The law requires mining companies to include downstream processing and higher value production in the mining licence application, whilst providing a more transparent business and operational environment.
- The country has world class reserves of bauxite, titanium, iron ore and chromite. It also has various other minerals; copper, gold, phosphate rocks, rare earths, limestone and tungsten.
- Vietnam is in the top 40% of economies globally when considering the importance of mining to the economy.
- Vietnam’s power plan it aims to build more than 70 new coal-fired power stations by 2030 and it is therefore anticipated that economy will move from being a net exporter of coal to a net importer.
- Over the last several years Vietnam has witnessed an increase in foreign investments, resulting in increased exploration and the expansion and commissioning of new bauxite, copper and gold projects.
- Vietnam wishes to 1. improve the geological information available by carrying out surveys, 2. promote a mineral processing industry within the economy 3. ban the export of ore in order to create more economic value for the Vietnamese economy.
Major Mineral Producers
- A number of major mining operations have been successfully commissioned recently, such as:
- Asian Mineral Resources’s Ban Phuc Nickel Mine and processing plant
- Masan Resources’s Nui Phao Mine and processing plant
- Vinacomin’s Tan Rai bauxite and alumina plant
In addition to expansions to existing operations including:
|Vinacomin||Coal (24 open pit, 30 UG)|
|Sin Quyen||Copper (copper, gold)|
|Masan Resources Nui Phao||Tungsten, Fluospar, Bismuth, Copper|
|AMR Ban Phuc||(foreign)|
|Besra Quang Nam|
|Tan Rai Aluminum|
|Quy Nhon Minerals|
|Thach Khe||Iron Ore (Vinacomin)|
|Co Dinh||Chromate project (Vinacomin AML)|
|Sinh Quyen||Expansion project (2nd plant)|
|Ta Phoi||Copper project (Vinacomin major shareholder)|
|Cao Bang||Manganese project Underground mine (Danka Minerals)|
|Binh Phuoc||Bauxite (An Vien group)|
|New Projects under Construction|
|Sin Quyen 2||Copper plant|
|Ta Phoi||Copper mine and plant project|
|Co Dinh||Chromite project|
|Thach Khe||Iron Ore mine project|
|Nhan Co||Bauxite and alumina|
|Tran Hong Quan||Aluminium|
|Metallurgical Co Ltd||Aluminum|
|Vinacomin is the owner and major shareholders of minerals mining businesses and project including:|
|Sin Quyen||Copper Complex|
|Lam Dong||Alumina and Bauxite|
|Nhan Co||Alumina and Bauxite|
|Thach Khe||Iron ore|
|Song Hong||Energy Coal|
- Vietnam presents major opportunities for the processing and refinery industry along with mining technologies and services.
- Canadian companies who consider entering the Vietnam mining market do so with a strategy of growing opportunities on a regional basis over a longer period of time.
- It is critical to find the right partner who demonstrates his linked to a senior level of the Government. Finding the right partner can facilitated business success effectively and there are fewer competitive challenges than many other countries.
- Vietnam is following a similar development path as China by easing business regulations and making structural reforms.
- A SE Asia market entry strategy should include a partner in Viet Nam to cover the three linked countries including Laos and Cambodia. Vietnam is in the center of the region and offers easy logistics to cover off growth opportunities.
- Consider attending the Mining Vietnam Exhibition and Conference March 31-April 1. The industry is well attended and quick to show interest in technologies that they have not seen.
- There is a competent level of English spoken in business circles.
- Foreign investment in mining has been minimal and constrained by regulatory issues, investment and market access challenges.
- A complicated transaction system, and a lack of transparency in the procurement process can make doing business difficult within the mining sector.
- Language can also be a barrier to market entry however English is spoken.
- As most other regional countries the government is considering the export of raw minerals by 2020. The reality is that not many countries will find it economically workable.