Vietnam to Map Out Long-term Development Strategy for Mineral Production

The government of Vietnam will outline a long-term development strategy for exploring and producing mineral resources to boost the national economy, said Pham Khoi Nguyen, minister of the Natural Resource and Environment May 22.

 

Currently, the country boasts huge reserves with seven types of minerals, being one of the largest in the world, including limestone, carbonate calcium, bauxite, coal, titanium, and rare earth metals, said the minister.

 

Combining mining with processing will be the best way, which will be 10 times more effective than just exporting crude oil, noted Mr Nguyen.

 

The world mining industry has developed strongly for 100 years, exhausting global resources, while Vietnam still has a great deal of untapped potential, said the minister, recommending that the country must avoid indiscriminate exploitation of its mineral resources and build on its strength. (VOV)