Vietnam Pushes Vinacomin Modernization in Energy, Materials Sector

The Vietnam National Coal and Mineral Industries Holding Cooperation Limited (Vinacomin) is pushing for its transformation into a modern industrial group in the energy and materials sector. The company reported meeting its production and business targets in February, contributing VNĐ1.78 trillion (nearly US$67.96 million) to the State budget in the month alone. For the first two months of the year, its total contribution reached VNĐ4.44 trillion (US$169.5 million). This move aligns with Resolution No. 10-NQ/TW issued by the Politburo in 2026 on the development of the foreign-invested sector. The resolution identifies foreign direct investment (FDI) as “an important component of the national economy” and “a key driver of economic development and international integration.” Vinacomin's modernization is part of Vietnam's broader goal to enhance its competitiveness in the global market and accelerate economic growth. Vinacomin has also signed an agreement that opens a new phase of cooperation in coal trade with Laos, affirming its role in expanding markets and ensuring stability and efficiency for the group's production and business activities. Furthermore, Vietnam consistently attaches importance to the conservation and sustainable use of aquatic resources, the fulfilment of international obligations, and the promotion of regional and international cooperation in accordance with international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS). As a driver of economic growth, Vietnam aims to turn its marine economy into a key driver of double-digit economic growth through a transparent and stable legal environment with outstanding incentives. Shipbuilding is also increasingly viewed as an important component of Vietnam's marine economy, forming part of an integrated industrial ecosystem closely linked with metallurgy, mechanical engineering, electrical and electronic industries, information technology, and maritime logistics. As an active WTO member, Vietnam has been making active contributions to the organization's agenda, including negotiating entry into the expanded Information Technology Agreement (ITA2) and preparing for its next Trade Policy Review scheduled for late 2026. Source: VietnamPlus English