Vietnam

Vietnam Net - E | English | News | June 24, 2025 | UndeterminedEconomic Growth

The St. Petersburg economic forum attracted nearly 20,000 delegates from 140 countries and territories, a 20% increase from 2024. Vietnamese Deputy Prime Minister Long engaged with leaders of major Russian corporations such as Gazprom, AFK Sistema, and Zarubezhneft, which are either investing or exploring investment opportunities in Vietnam. He also held brief talks with high-ranking officials including Russian Deputy PM Alexander Novak, Saudi Arabian Minister of Energy Prince Abdulaziz bin Salman Al Saud, the President of the New Development Bank Dilma Rousseff, and the Secretary General of the Black Sea Economic Cooperation Organisation Lazar Comanescu.

Long emphasized the strong and growing comprehensive strategic partnership between Vietnam and Russia, highlighting the importance both nations place on effective collaboration. He called for increased efficiency in joint oil and gas exploration and exploitation, and expressed Vietnam’s readiness to support Russian enterprises investing not only in traditional sectors like energy and industry but also in emerging fields including IT, digital technology, AI, clean energy, pharmaceuticals, and biomedicine. He also encouraged Russian firms to assist with technology transfer, technical support, and training for Vietnamese personnel.

Russian corporate leaders expressed appreciation for Vietnam’s supportive government policies and viewed the May 2025 visit to Russia by Vietnamese Party General Secretary To Lam as a significant milestone for bilateral cooperation. They committed to applying advanced technologies in joint projects and expanding technology transfer and training programs. During his visit, Long and the Vietnamese delegation participated in a ceremony laying flowers at the monument to President Ho Chi Minh in Saint Petersburg, alongside representatives from the Vietnamese Embassy, local Vietnamese community, and city authorities.

Chuỗi cung ứng đất hiếm toàn cầu đã dịch chuyển ra sao?

VN Express | Local Language | News | June 24, 2025 | Supply Chain Issues

The Mountain Pass mine in California, the only operating rare earth mine in the United States, resumed production in 2017 after years of inactivity. The mine's revival aligns with a global shortage of imported rare earths, which are vital for industries such as computer chips and aircraft engines. Despite U.S. efforts, China still dominates the global rare earth supply chain, accounting for over 69% of global production and about 90% of rare earth magnets, essential for electric vehicles and wind turbines.

China has used rare earth exports as leverage amid escalating trade tensions, drastically cutting exports in recent months. This move has revealed the fragility of the global supply chain and prompted other countries to reconsider domestic production despite the high costs and environmental challenges. The history of rare earth production in the U.S. includes the Mountain Pass mine's closure in 2002 due to environmental issues and competition from China, which eventually led to the migration of manufacturers to China for proximity to raw materials.

The European Union is also seeking improved access to rare earths through upcoming negotiations with China, with export licenses still seeing delays despite attempts to expedite them. Meanwhile, the U.S. is actively trying to rebuild its rare earth capabilities by refining ores domestically and planning magnet production in Texas by early 2025. In Oklahoma, investments in critical mineral refining, battery recycling, and rare earth magnet manufacturing are growing, supported by favorable logistics, workforce expertise, and streamlined regulations.

Outside the U.S., countries like Australia, India, and Brazil hold significant rare earth reserves and are moving to increase production. Startups such as Westwin Elements in Oklahoma are expanding nickel refining operations with ambitions to meet a substantial portion of U.S. demand, embodying a broader strategy to reduce dependence on China and enhance domestic critical mineral supply chains.

Vietnam Net - E | English | News | June 24, 2025 | UndeterminedPolitical Policy Resistance

Prime Minister Pham Minh Chinh has instructed that the ongoing restructuring of local governments must not impede the progress of key national programmes, including the elimination of substandard housing, transport infrastructure development, and public investment disbursement. He emphasized the importance of maintaining focus on these priorities despite the organisational changes in the two-tier local administration model.

The programme to remove temporary and dilapidated houses has made significant progress, with nearly 263,000 units addressed so far—225,000 completed and 38,000 under construction. Thirty-eight provinces and cities have met their targets. The Prime Minister urged the commencement of construction on the remaining 14,577 houses to meet the August 31 deadline, with homes for veterans to be completed by July 27 as a tribute to their service. These housing achievements are to be highlighted as part of the 80 flagship projects commemorating the 80th National Day.

In the transport sector, 19 projects have been completed, notably expanding the expressway network from 1,327 to 2,268 kilometres and commissioning Terminal 3 at Tan Son Nhat International Airport. Another 52 projects continue as scheduled. PM Chinh called for resolution of challenges such as site clearance and material costs and urged swift progress on major projects including the Ho Chi Minh City Long Thanh expressway expansion and Hanoi’s Ring Road 4 component. For Long Thanh International Airport, authorities were directed to ensure safety, quality, and timely completion in 2025 despite weather delays.

Public investment disbursement reached 264.8 trillion VND (about 10.13 billion USD) in the first half of 2025, representing 32.06% of the annual target. However, nearly 7.36 trillion VND remains undistributed across multiple ministries and localities, with 61 agencies performing below the national average. The Prime Minister criticized the slow and insufficient responses to delays and violations in managing public investment, calling for stronger accountability down to individual officials and the incorporation of disbursement results into annual performance evaluations.