Viet Nam must prioritise the development of its mining sector with a focus on the implementation of science and technology, particularly digitalisation technologies.
Statistics from the General Statistics Office of Vietnam (GSO) showed that the mining industry has posted a record slump since 2011, with the growth rate ping by 7.1 per cent in 2017 and 4 per cent in 2016.
Although fluctuations in international demand and pricing have put pressure on returns from Viet Nam’s mining industry, the sector remains a magnet for foreign direct investment (FDI).
The local mining industry saw a decline in production growth in the past
seven months, which is likely to extend to the end of the year, said
the General Statistics Office (GSO).
The Viet Nam National Coal and Mineral Industries
Group (Vinacomin) is seeking approval to lower the export tax on coal,
claiming the mining industry faces difficulties due to steep decreases
in demand both at home and abroad.