In November, Vietnam’s mining sector registered no new projects and no newly registered capital, according to Vietnam’s Ministry of Planning and Investment. This compares to October, when the sector recorded 4 new projects and US$4,000 in newly registered capital, reflecting a 100 percent decline.
Year-to-date (YTD), the mining sector has attracted a total of 1 new project with US$2.8 million in newly registered capital, indicating limited investment activity for the year.
The mining sector in Vietnam, which includes the extraction of minerals and natural resources, plays an important role in the country’s industrial activities. However, the downturn in November may suggest reduced investment interest in this sector, possibly due to fluctuating global commodity prices or changes in government regulations.
Key foreign firms in the mining sector in Vietnam include companies such as BHP Group, Rio Tinto, and Vedanta Resources, which have historically been involved in Vietnam’s mining activities.
While November’s performance reflects a downturn, the mining sector remains crucial to Vietnam’s industrial base, with potential for recovery as global conditions improve.
See also: Mining in Vietnam: Industry Overview