Vietnam set to become new rare earths player
Vietnam has signaled its intentions to play a role in the global rare earths supply chain as a wider supply base worldwide means less dependence on China.
South Korea’s Ministry of Trade, Industry and Energy announced in Seoul on December 5, 2022 that it had signed an agreement with the Vietnamese Ministry of Industry and Trade to expand cooperation in core minerals including rare earth elements.
The signing was part of a meeting between the presidents of South Korea and Vietnam in Seoul, during which the two nations agreed to upgrade their ties to a comprehensive strategic partnership.
The two leaders also agreed to explore and develop core minerals in Vietnam and to promote investment in order to stabilize the global supply chains for rare earths.
Rare earths are important raw materials for chips, smartphones, computers, displays, other electronics, medical and military equipment, electric vehicles, and wind turbines.
According to official data, Vietnam is estimated to have about 22 million tons of rare earth reserves, mostly in the north. The fast-expanding economy has so far been unable to fully tap into its potential despite years of exploration.
However, Vietnam has become a production base for global electronics manufacturers, and is one of the fastest-growing renewable energy markets. The government is seeking to reach its carbon neutral target by 2050.
In mid-December, Vietnam Rare Earth JSC, headquartered in the northern province of Ha Nam, signed a contract to annually export 1,000-2,000 tons of rare earths to South Korea. Under the deal, the Vietnamese firm will supply rare earth oxides worth $50 million over five years from 2023 to Korean Strategic Materials Metals, a subsidiary of Australian Strategic Materials Limited (ASM).
The materials will be used at ASM's Korean Metals plant before its Dubbo mine starts operation. For years, ASM has been mining minerals such as rare earths in Dubbo, New South Wales, Australia, and processing them in South Korea.

ASM CEO Rowena Smith (R) and KSM Metals CEO Cho Sung-lea stand next to metal products used for rare earth element permanent magnet manufacturing at KSM Metals plant in Ochang, North Chungcheong, South Korea. Photo courtesy of ASM.
Also in December, the Canadian province of Saskatchewan sent a trade mission to Vietnam to sound out opportunities. Saskatchewan's Trade and Export Minister Jeremy Harrison noted green energy, sustainable mining, and rare earths as areas where Saskatchewan and Vietnam can collaborate.
Canada is seeking to intensify its trade ties with Vietnam, and both are members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP.
Japan, one of the world’s largest markets for rare earth minerals, started to buy Vietnamese rare earths in 2010.
The global rare earths market was valued at more than $9.34 billion in 2021 and is expected to expand at a combined annual growth rate of 3.8% until 2027 to reach $11.69 billion, according to the “Rare Earth Metals Market Insights 2022" compiled by www.360researchreports.com.
- Read More
Food giant C.P. Vietnam’s 'diseased' pigs improperly quarantine-stamped: authorities
The widely circulated images of diseased pigs from C.P. Vietnam, a subsidiary of Thailand’s food giant Charoen Pokphand Foods Public Company Limited (CPF), date back to 2022, but the pigs were improperly stamped, Vietnamese authorities stated on Tuesday.
Companies - Tue, June 3, 2025 | 5:36 pm GMT+7
Son Hai Group proposes expanding 263km stretch of Vietnam's North-South Expressway
Vietnam’s Son Hai Group is seeking Prime Minister Pham Minh Chinh's approval to invest in the expansion of a 263-kilometer stretch of the eastern section of the North-South Expressway.
Infrastructure - Tue, June 3, 2025 | 3:53 pm GMT+7
FedEx establishes direct serve in Vietnam on surging demand
FedEx Express Corporation, one of the world’s largest express transportation companies, has transitioned to a direct-serve presence in Vietnam amid the Southeast Asian country’s growing international shipping demand.
Industries - Tue, June 3, 2025 | 2:55 pm GMT+7
Vietnam’s steel giant Hoa Phat to deliver thousands of containers to domestic shipping lines
Vietnam’s largest steelmaker, Hoa Phat Group, will supply thousands of containers to VIMC Container Transport JSC (VIMC Lines) and Vinafco Shipping JSC under recently signed contracts.
Companies - Tue, June 3, 2025 | 12:16 pm GMT+7
Shinhan Bank receives 'Fastest growing SME bank Vietnam 2025' award
South Korea’s Shinhan Bank Vietnam Limited has been named the “Fastest Growing SME Bank Vietnam 2025” by World Economic Magazine (UK).
Companies - Tue, June 3, 2025 | 10:19 am GMT+7
Vietnam’s ‘shrimp king' Minh Phu expects to return to profit in 2025
Minh Phu Seafood Corporation (UPCoM: MPC), Vietnam’s leading shrimp exporter, expects net profit to reach VND997 billion ($38.03 million) this year, reversing the loss in 2024.
Companies - Tue, June 3, 2025 | 8:38 am GMT+7
CMC Corporation breaks ground on $300 mln technology hub in Hanoi
Vietnam's leading technology firm CMC Corporation on Monday broke ground on its $300 million Hanoi CMC Creative Space (CCS Hanoi) project.
Industries - Mon, June 2, 2025 | 11:19 pm GMT+7
Thailand’s industrial output up after 9-month decline
Thailand’s industrial output has turned positive for the first time in nine months, with the automotive sector rebounding after a 21-month slump, said Thai Deputy Finance Minister Paopoom Rojanasakul.
Southeast Asia - Mon, June 2, 2025 | 10:48 pm GMT+7
Singapore, France to expand cooperation in civil nuclear energy, defence technology, AI research
Singapore and France have upgraded their Strategic Partnership signed in 2012 to a Comprehensive Strategic Partnership (CSP), marking Singapore's first CSP with a European country.
Southeast Asia - Mon, June 2, 2025 | 10:47 pm GMT+7
Masan MEATLife stock jumps on continued profit momentum
The ticker of Masan MEATLife (MML), a subsidiary of Vietnamese consumer retail giant Masan Group, jumped by 8.71% to VND31,200 ($1.2) per share on Monday, after it reported profit for the third consecutive quarter in Q1/2025.
Companies - Mon, June 2, 2025 | 10:34 pm GMT+7
Vietnam's VSIP Binh Dinh industrial park seeks to become 'golden destination' for Thai firms
The Becamex VSIP Binh Dinh service-urban-industrial complex in the central province of Binh Dinh is emerging as a promising destination for Thai enterprises, said its developer Becamex Binh Dinh JSC.
Industrial real estate - Mon, June 2, 2025 | 10:24 pm GMT+7
Termination of feed-in-tariff mechanism a major bottleneck in Vietnam’s electricity transition: expert
A major bottleneck in Vietnam’s electricity transition has been the termination of the feed-in-tariff (FIT) mechanism in 2021, with no suitable replacement mechanism in place, according to the director of Hanoi-based Institute of Energy Technology.
Economy - Mon, June 2, 2025 | 4:56 pm GMT+7
Vietnam Vaccine JSC launches high-quality healthcare shop chain
Vietnam Vaccine JSC (VNVC), well known for its vacciation services, on Saturday launched its VNVC Shop, a chain offering safe, high-quality healthcare products from globally recognized brands.
Companies - Mon, June 2, 2025 | 4:05 pm GMT+7
Vietnam heavyweight PV Gas plans $3 bln investment over next 5 years
PV Gas, a subsidiary of state-owned giant Petrovietnam, plans to make "strong investment" over the next five years in areas such as infrastructure and import-distribution of LNG.
Energy - Mon, June 2, 2025 | 2:01 pm GMT+7
Vietnam sees renewed output expansion, improved business confidence in May: S&P Global
May saw a more stable picture in terms of U.S. tariff policies than April, helping lead to a renewed expansion in output and improved business confidence, says Andrew Harker, economics director at S&P Global Market Intelligence.
Economy - Mon, June 2, 2025 | 9:18 am GMT+7
Vietnam considers developing 2 inter-regional renewable energy service and industry hubs
The Ministry of Industry and Trade (MoIT) has proposed building two inter-regional renewable energy service and industry hubs in the country.
Economy - Mon, June 2, 2025 | 8:00 am GMT+7