Hanoi (VNA) – The 6th International Mining and Minerals Recovery Exhibition for Vietnam (Mining Vietnam 2024) kicked off in Hanoi on April 24.

Organised by Informa Markets Vietnam under the UK’s Informa PLC, the three-day event has seen the participation of 200 exhibitors from 17 countries and territories, including the UK, India, Poland, China, the US, Japan and Vietnam.

Covering an area of 6,000 sq.m, the biennial event is expected to attract over 3,000 industrial visitors and promises to be an ideal trading destination for businesses operating in mining and construction.

Speaking at the opening ceremony, Ben Wong, Country General Manager of Informa Markets Vietnam, said Vietnam is one of the largest mineral producers in ASEAN, having a world-class reserve of coal, bauxite, chromite, titanium, iron ores and rare earth metals.

Vietnam is renowned for its diverse mineral resources, boasting over 5,000 mines containing 60 different types of minerals, including coal, bauxite, apatite, titanium, rare earths and more. With a rich history spanning nearly 180 years, Vietnam's coal industry has been a cornerstone of national energy security.

Furthermore, Vietnam's substantial bauxite reserves, estimated at 5.8 million tonnes, solidify its position as the world's second–largest holder of bauxite ore potential (United States Geological Survey, 2023).

In recent years, the Vietnamese Government has implemented preferential policies designed to encourage more enterprises to participate in the mining and construction sectors. These policies prioritise sustainability and optimisation of mineral resources.

Notable initiatives include auction to exploit minerals right, the amended Environmental Protection Law, and the planning for exploration, extraction, processing and use of minerals used as building materials for the period of 2021 - 2030, with a vision to 2050. These measures clearly outline the goal of transforming the mining industry into a modern sector by applying science, technology and innovation in equipment to produce high value-added products with positive environmental impact and resource conservation.

Besides mining, the domestic construction market in Vietnam is also thriving, with a market size expected to reach 69.2 billion USD in 2024 and an annual growth rate projected to exceed 8.1% from 2024-2029 (Mordor Intelligence, 2023). This growth has caught the attention of foreign investors. The master plan for the road network from 2021 to 2030, further boosts this potential./.