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Vietnam has already rail connections to China, but the system is old with limited capacity on the Vietnam side. The upgraded railway would pass through the region where Vietnam has its largest deposits of rare earths, of which China is by far the world's biggest refiner. Chinese and Vietnamese rare earths industry experts discussed last week stronger cooperation on processing the minerals, according to Vietnamese state media. It is unclear how much China would contribute to the upgraded railway track in Vietnam and whether Hanoi would accept sizeable financing from Beijing on this. A strengthened railway link could also boost Vietnam's export to China, mostly of agriculture products, boost Chinese tourism to northern Vietnam and further integrate the two countries' manufacturing industries, which experts already consider as symbiotic, with factories in Vietnam largely assembling components produced in China.

Persons: Xi Jinping, Vietnam's, Wang Yi, Tran, Pham Minh Chinh, Wang Wentao, Francesco Guarascio, Khanh Vu, Phuong Nguyen, Stephen Coates Organizations: Vietnam's, China's Commerce, Initiative, Reuters, Thomson Locations: Hanoi, China, Haiphong China, Vietnam, HANOI, United States, Tran Luu Quang, Kunming, Haiphong, Beijing, China . China, Hong Kong, Washington, South

Embattled Bamboo, Vietnam's No. "Bamboo Airways has reduced a number of pilot personnel recently to serve this goal," the statement said, denying that late payments of salaries were the reason behind the departures. Many staff at Bamboo have sometimes had to face delays in salary payments but this had not, until recently, affected foreign pilots who make up a large majority of the airline's pilot staff, the sources said. Messages seen by Reuters from an internal company chat forum that management uses to communicate with foreign pilots show some salary payments have been late. Bamboo, which flies both internationally and domestically, has around 17% of Vietnam's market share, its then CEO told local media in March.

Persons: Bamboo, Vietnam's, Bamboo's, Nguyen Ngoc Trong, Trong, Francesco Guarascio @fraguarascio, Khanh Vu, Phuong Nguyen, Mai Nguyen, Jamie Freed, Edwina Gibbs Organizations: Bamboo Airways, Airways, Reuters, Sacombank, Vietnam's, Thomson Locations: Samcombank, HANOI, United States

She cited unpublished information from Vietnam's Ministry of Natural Resources and Environment, which did not respond to requests for comment. In recent years, Japanese investors Toyota Tsusho and Sojitz abandoned projects at Dong Pao after China ramped up supply, pummelling prices. Reuters GraphicsStill, rare earths at Dong Pao are relatively easy to access and are mostly concentrated in bastnaesite ores, according to the Hanoi University of Mining and Geology. The plant has capacity to process 5,000 tons of REO a year but the company plans to treble that to accommodate input from Dong Pao, Tuan said. The metallization process is controlled by China, which produces 90% of rare-earth metals, according to the U.S. Department of Energy.

Persons: Dong Pao, Blackstone, VTRE, Tessa Kutscher, Anh Tuan, Joe Biden, Kutscher, Sojitz, Dylan Kelly, Vingroup, Rivian, Dong, Tuan, David Merriman, John Rockhold, Dudley Kingsnorth, Francesco Guarascio @fraguarascio, Khanh, Melanie Burton, Trevor Hunnicutt, Mai Nguyen, Phuong, David Crawshaw Organizations: REUTERS, Australia's Blackstone Minerals Ltd, Vietnam's Ministry of Natural Resources, Earth JSC, U.S, . Geological Survey, Reuters, Toyota, Terra Capital, Blackstone, Hanoi University of Mining, REO, White House, Department of Commerce, U.S . Chamber of Commerce, Strategic, ASM, Reuters Graphics Reuters, U.S . Department of Energy, Western Australian School of Mines, Curtin University, Thomson Locations: Nam, Lai Chau, Vietnam, Pao, HANOI, Dong, Beijing, China, Hanoi, U.S, Dong Pao, VTRE, South, Khanh Vu, Melbourne, Seoul, Washington, Phuong Nguyen

HANOI, May 30 (Reuters) - Samsung and other foreign companies are pushing Vietnam to introduce a multi-million-dollar reform that would compensate them for higher levies they face from next year under a global overhaul of tax rules, a source involved in the talks said. The discussions precede the introduction from January of a minimum tax rate of 15% for large multinationals under a landmark global reform led by the Organisation for Economic Cooperation and Development (OECD). The global rule requires companies paying less in a low-tax jurisdiction to face a top-up levy in their home country. Samsung's tax rate varies by district, and ranged between 5.1% and 6.2% in 2019 in the two northern provinces where it produces smartphones, according to government data cited by local media. Smaller companies that are not within the scope of the new global rules may also receive handouts, the source said.

Reuters GraphicsMany U.S. importers are still sanguine, but their supply chains could still be disrupted as Vietnam's apparel makers depend on China for about half of their input materials, according to the country's industry association. XINJIANG LINKSWhile the halted shipments represent a tiny portion of the $27 billion worth of garments and footwear Vietnam exported to the U.S. last year, compliance risks may lead to more painful adjustments for Vietnam. That, in turn, will hit U.S. consumers as Vietnam is their main source of cotton apparel, according to the U.S. Department of Commerce. However Nike has significantly reduced its output of apparel and footwear in Vietnam despite the country remaining its main manufacturing hub, according to its latest annual report updated to May 2022. Two officials from U.S. footwear and apparel industry trade associations said the new rules have had no major impact so far on Vietnam and blamed recent job cuts on lower global demand.

That made Vietnam one of the top buyers of Russian arms, according to data from the Stockholm International Peace Research Institute (SIPRI), which tracks global military expenditures. Starting Thursday, the country will host its first large-scale international arms trade fair, for which more than 170 companies from 30 countries have registered, the defence ministry said. The Defence Ministry referred questions about the country's defence industry to the Foreign Ministry, which did not respond to requests for comment. A half-dozen Russian defence firms are registered for the Hanoi fair, including Rosoboronexport, the state agency that imports and exports weapons. That year, the COVID-19 pandemic reduced Vietnam's military imports to only $32 million, of which $9 million worth were Russian arms.

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