2025-12-15
On Thursday (December 11) local time, the Vietnamese National Assembly passed a revised bill that restricts the export of refined rare earths and reaffirms the ban on the export of rare earth ores.
The bill will take effect in January next year, under which the Vietnamese government will "strictly" control the exploration, mining, and processing of rare earths. Only companies approved by the government will be allowed to mine, process, and utilize the country's rare earth resources, and the export of raw rare earth ore is prohibited.
Analysis suggests that the revised bill aims to support the development of the country's long-stagnant domestic rare earth industry, which has been striving to tap into its abundant reserves for decades. It should be noted that Vietnam has banned the export of rare earth ores at least since 2021.
RMIT University Vietnam economics lecturer Richard Ramsawak commented, "These measures aim to enable Vietnam to capture a larger share of value in the rare earth supply chain, support the emergence of high-tech manufacturing capabilities, and enhance long-term economic resilience."
Rare earths, which are non-renewable resources, play an irreplaceable role in national defense, new energy, new materials, energy conservation and environmental protection, aerospace, and electronic information, and are referred to as "industrial vitamins," "the mother of new materials," and "the core of military applications."
According to data from the U.S. Geological Survey (USGS), Vietnam ranks sixth globally in rare earth reserves, with approximately 3.5 million tons, but its annual production is only around 300 tons.
The revised Vietnamese law stipulates that the deep processing of rare earths must be linked to the development of the industrial ecosystem to strengthen the country's local value chain and ensure the self-sufficiency of its domestic rare earth industry.
At the same time, the bill also encourages international cooperation in research, technology transfer, and development to support Vietnam's domestic rare earth industry. Ramsawak noted that this reflects the country's acknowledgment of "current limitations in advanced separation and refining technologies."
Currently, Vietnam has almost no refined rare earth production capacity, so the restrictions are unlikely to have an immediate practical impact in the short term. However, regulatory obstacles have long hindered the development of its rare earth resources by local companies and foreign partners.
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