Debating amendments to the Law on Geology and Minerals at the ongoing session of the National Assembly, the lawmakers agreed that revising the law is essential to remove legal bottlenecks in licensing, mining, and mineral use, particularly for critical national infrastructure projects or urgent investment initiatives mandated by authorities, supporting the country’s economic growth objectives.

A key focus of the discussion was the management, utilisation, and extraction of rare earths, which are crucial for high technology, defence, renewable energy, and electronics production, while also having significant implications for national security, diplomacy, and economic policy.

Deputy Trinh Xuan An from Dong Nai province highlighted the importance of establishing rare earth mines or reserves dedicated to defence and security. He also called for regulations to control technology and data related to rare earths, especially state-secret information, and emphasised that extraction should be strictly limited to industrial and defence purposes, with the Ministry of Defence reviewing all national rare earth programmes.

Deputy Trinh Thi Tu Anh from Lam Dong stressed that rare earths must be managed on a unified, science-based framework with strict risk controls. She pointed out that rare earths are not only strategic minerals but also carry significant environmental hazards, requiring safety thresholds, closed-loop extraction technology, radioactive dispersion modeling, continuous monitoring systems, and internationally compliant waste treatment.

She also highlighted the need for independent oversight by the National Radiation and Nuclear Safety Authority throughout the mining, processing, and environmental restoration process.

Sharing similar concerns, Deputy Nguyen Tam Hung from Ho Chi Minh City noted that the draft law does not clarify how companies would be selected for exploration, mining, and processing based on technological security, deep processing capacity, and environmental governance, despite the industry’s sensitivity and risk of resource capture or technology leaks.

He suggested adding a review process for economic and technological security before technology transfer, export of processed products, or international joint ventures, to safeguard national resource sovereignty, economic security, and industrial autonomy in rare earth production.

Minister of Agriculture and Environment Tran Duc Thang further explained that all mineral areas have been mapped and are under strict management, and that the ministry is coordinating with other governmental bodies to develop a national rare earth strategy, which is expected to be submitted to the Government for approval in early 2026. Once the mapping is complete, the next critical step would be deep processing and extraction to maximise national benefits.

NA debates Investment Law amendments to remove barriers, improve quality

VOV.VN - Deputies to the ongoing session of the National Assembly discussed amendments to the 2020 Investment Law in Hanoi on November 27, focusing on reducing unnecessary business conditions, creating a transparent and open environment.