The US is ready to help Vietnam organize rare earth bidding.

Chief Economist of the US State Department, Ms. Emily Blanchard at the event on the afternoon of October 25 (Photo: Quoc Dat).

"Regarding mineral resource development..., the United States has long had a practice of providing technical assistance to the greatest extent possible, if requested," Ms. Blanchard said at a press conference on the afternoon of October 25 in Hanoi .

“Technical assistance here can and often does include assisting in the organization of tenders to generate maximum interest from potential foreign business partners,” Ms. Blanchard explained. “If Vietnam decides to request our assistance in developing the tender, we would be happy to provide that support.”

During US President Joe Biden’s visit to Vietnam in September, the two countries signed a memorandum of understanding on supporting the determination of Vietnam’s rare earth reserves. According to estimates by the US Geological Survey, Vietnam’s rare earth reserves and resources are estimated at about 22 million tons, ranking second in the world .

Vietnam plans to exploit about 2 million tons of raw rare earth ore per year from now until 2030, according to the "Plan for exploration, exploitation, processing and use of minerals in the 2021-2030 period, with a vision to 2050".

"I hope that when Vietnam decides to develop rare earth minerals, both in mining and processing, it will do so in a way that protects the environment and ensures worker welfare," said Ms. Blanchard.

Confident in Vietnam's economic prospects

Amidst many challenges facing the global economy, Vietnam's GDP in 2023 will only increase by over 5%, lower than the National Assembly's target of 6.5%, Prime Minister Pham Minh Chinh said on October 23.

However, Ms. Blanchard is optimistic about Vietnam's future development trajectory.

"Most importantly, the fundamental drivers of GDP growth, as well as supply and demand in Vietnam, are very strong," the US official told Dan Tri reporter, explaining that these drivers include investment in people, infrastructure, innovation and governance environment.

“On all of these fronts, we can see the incredible momentum that Vietnam has demonstrated, not just in words but also in actions,” said Ms. Blanchard.

The chief economist also pointed out three factors that could help Vietnam increase its attraction of US FDI: Investing in people, investing in renewable energy grids, and creating a favorable environment for businesses.

People are the factor that attracts many companies to Vietnam, so "investing in the workforce will play a decisive role," according to Ms. Blanchard.

In addition, in the context of many large corporations in the world having made commitments to net zero emissions, their ability to access green electricity is also another factor in investment decisions.

“The sooner Vietnam can generate more renewable energy sources and connect them to the grid so that investors can access them, I think that will bring a lot of investment,” said Ms. Blanchard.

Finally, the US chief economist pointed out the importance of creating a favorable environment for businesses, especially in the digital space, so that they can operate their digital platforms smoothly at the regional and global levels.

“We are entering the era of the Internet of Things. When you buy an iPhone, you are not only buying the phone but also the services that Apple provides, such as software and operating systems,” said Ms. Blanchard. “Therefore, it is very important to cooperate with Vietnam and partners around the world to ensure that businesses can innovate at the intersection of the physical and the virtual, to create the technology of the future.”

Source: https://dantri.com.vn/the-gioi/my-san-sang-giup-viet-nam-ve-to-chuc-dau-thau-dat-hiem-20231025174314540.htm