In particular, the development of high-tech mineral industry deeply connected to the global supply chain according to the Government's orientation is one of the key recommendations clearly pointed out by the representative of Masan Group.

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Mr. Nguyen Thieu Nam spoke at the conference.

International cooperation to develop high-tech mineral industry

Rare earth is a special mineral, used in many high-tech fields, and is also one of the strategic materials for semiconductor production. In Vietnam, the estimated rare earth reserves are about 22 million tons (accounting for more than 18% of the world's rare earth reserves), second in the world, only after China with 44 million tons (accounting for more than 36% of the world's rare earth reserves).

According to the report of the Department of Industry, Ministry of Industry and Trade , the exploitation and processing of rare earth mines in Vietnam is still limited. The main reason for this delay is that licensed mining enterprises have not yet mastered the technology to process products that meet requirements, nor have the technology to separate rare earth products. Currently, Vietnam has only stopped at the stage of processing rare earth concentrates with a rare earth oxide content of about 30%.

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Mineral processing plant at Masan's Nui Phao polymetallic mine

Speaking at the conference, a representative of Masan Group shared that Masan owns and operates the Nui Phao tungsten mine and the tungsten deep processing plant in Thai Nguyen, which contributes a large amount of tax to the Thai Nguyen provincial budget.

Following the Government's direction, which wants mineral mining corporations to develop deep processing and participate deeply in the global supply chain, Mr. Nguyen Thieu Nam stated that Masan Group has been building a strategy to develop tungsten mines according to this direction.

To continue to improve and innovate technology and participate in the global supply chain, the representative of Masan Group proposed that the Government create conditions for mining enterprises to proactively cooperate with large mining corporations in the world that own core and high technology on the principle of mutual benefit.

Removing bottlenecks for businesses, speeding up the implementation of directives

In addition, to encourage businesses to invest in deep processing and develop the processing industry into a key heavy industry, the Deputy General Director of Masan Group proposed that the Government consider not imposing export tax on deep-processed products from minerals, review the mining license application process and tax policies, and remove bottlenecks affecting the mining progress and sustainable financial model of mineral enterprises.

"We also think that the Central and local governments should have a clearer mechanism for the unit that gives directions and decisions to the implementing unit to avoid overlapping and causing difficulties for businesses. We also hope that the Government and local ministries and branches will speed up the implementation of the Government's instructions, such as the conclusion No. 226/TB-VPCP dated June 16, 2023 on resolving outstanding issues related to the company's mineral exploitation rights fees before July 31, 2023. However, to this day, the company has not been resolved," Mr. Nguyen Thieu Nam shared.

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Masan's Nui Phao Factory

Masan is ready to cooperate with strategic partners and transfer technology to Vietnam.

Masan leaders shared that Masan Group is always ready to cooperate with strategic partners with rich potential and experience to maximize its strengths, serve consumers, and contribute to the overall development of the country. Consistent with this strategy, in May, Masan Group upgraded its strategic cooperation with Mitsubishi Materials Corporation Group, successfully receiving the transfer of tungsten recycling and refining technology.

Specifically, in May, Masan announced the signing of a sales contract between Mitsubishi Materials Corporation Group (MMC) and Masan High-Tech Materials (MHT). Masan High-Tech Materials, a member company of Masan Group, is the world's leading manufacturer of high-tech tungsten metal powder and tungsten carbide, with production complexes in Vietnam, Germany, Canada and China and owns two research and development centers in Germany and Vietnam.

Accordingly, as a strategic partner, MMC is committed to continuing to support MHT and together open up new directions on the journey to develop the tungsten business. In the future, with the commitment to support and enhance strategic cooperation with MMC, it will contribute to training and improving the quality of MHT's workforce in particular and Vietnam's workforce in general in the field of recycling and developing high-tech materials.

Masan Group has been building a strategy to develop deep processing and participate deeply in the global supply chain according to the Government's orientation.

In the future, with support from the Government to facilitate working with large mining corporations in the world, removing bottlenecks in tax policies, processes and procedures, Vietnamese mining enterprises will reach far and step into the global supply chain.

(According to Dantri)