Mining industry no more aids growth

The country’s industry production indicator in the first eight months of the year has seen a year-on-year increase of 6.7 percent yet mining sector dropped by 4.8 percent.
 

A land for mining is destroyed (Photo: SGGP)

A land for mining is destroyed (Photo: SGGP)

The industry indicator in August soared by 8.4 percent against the same period last year with manufacturing sector hiking by 12.4 percent; electricity production leaping by 9.6 percent; and water supply and waste treatment sector leaped by 7.3 percent. Worse, mining sector dipped by 5 percent within two recent years.
Even though mining industry plays a pivotal role in the country’s economy, the industry dipped in two years because of difficult exploitation and dependence on world markets.
Economist Dr. Vo Tri Thanh said that in the context that crude oil has fallen deeply and the world applied new techniques that help consumers in the world not to deppend much on petrol. Positively, the drop of mining sector is an impetus for policy-makers to make renovation to use environmentally friendly substances. 
In reality in two decades, Vietnam is on the brink of extinction of many minerals because of over-exploitation. As per the Ministry of Environment and Natural Resources’ latest report, around 450 mines nationwide under the government’s management which contributed around 3.5 percent the country’s gross domestic product.
Over 170 enterprises in mining sector mostly use backward exploitation technologies and take little heed to environment protection, labor safety and natural resource protection; accordingly, they destroy jungle and natural life.
Around 11,312 jungle hectare and land for growing tree had been destroyed for mining yet little trees are re-planted and high pollution in these areas is seen.
In next time, as per the Politburo’s decision No. 02-NQ/TW on the strategy for mining and mining industry to 2020 with the vision to 2030 and the Prime Minister’s decision No.2427/QD-TTg, mining sector will still play an important role in the country industry.
However, to carry out the strategy successfully, other industries must be developed at the deep level same with other countries through calling for social contributions. The government must encourage utilization of advanced and environmentally friendly technologies. During the process, the government must enhance supervision to battle pollution.

By ANH THU - Translated by UYEN PHUONG

Other news

Most view

Cajeput (Tram) oil is good for relieving cough, sore throat, burns and aches. It can be used on sensitive skin and infants (Photo: tinhdautramhue.com)

Hue’s cajeput oil to get geographical indication

The central province of Thua Thien-Hue plans to give a geographical indication (GI) tag to Hue’s cajuput tree oil, helping consumers recognise the origin as a characteristic of the product.

Banking-finance

VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Economy

Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.

 

Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

DIG issue 14 million shares

Development Investment Construction Joint Stock Corp (DIG)’s shareholders have approved its plan to issue 14.3 million shares in the second and third quarters of 2018.