Nuclear power Vietnam’s choice to ensure sufficient energy: country top leader

By Tri Duc
Mon, October 28, 2024 | 4:33 pm GMT+7

Nuclear power is the path for Vietnam to ensure sufficient electricity supply by 2045, Party General Secretary To Lam said Saturday at the ongoing National Assembly session.

During parliamentary discussions on draft amendments to the Electricity Law, Lam said development of nuclear energy was in line with Vietnam’s aim to promote clean energies like solar and wind power. It was also in line with global trends, he said.

Party General Secretary To Lam speaks at the National Assembly, October 26, 2024. Photo courtesy of the parliament.

Party General Secretary To Lam speaks at the National Assembly, October 26, 2024. Photo courtesy of the parliament.

Therefore, the National Assembly should amend the law suitably to facilitate development of nuclear power in line with the Party Central Committee’s recent nod for the same.

Vietnam will find it difficult to meet power demand in 2045 if the law-making process was slow, as it would take five-10 years to develop a nuclear power plant after an in-principle nod is given, Lam said.

The amended Electricity Law should facilitate development of sufficient electricity sources and improve transparency of sources, he added.

Vietnam was striving to use clean power per its net zero commitment by 2050, Lam said. This was a global trend and Vietnam can’t stay out of the “game.”

Some foreign investors have already expressed their concerns of possible power shortages in Vietnam if current generation growth continues at the same pace, Lam cautioned.

Vietnam currently has no nuclear power project. In September, the Ministry of Industry and Trade was tasked with studying development of nuclear power as a baseload source. The ministry was asked to comprehensively review the sources of energy stipulated in the national power development plan VIII (PDP VIII) to ensure energy security and annual power supply growth of 12-15%, given economic growth projections of over 7% per year.

In draft amendments to the Electricity Law, the Vietnamese government has proposed that the State be the sole investor in nuclear power development, under its draft amended law on electricity.

Major producers including Russia and South Korea have already expressed their willingness to help Vietnam develop nuclear energy.

Comments (0)
  • Read More
Vietnam's Big 4 lender Vietcombank to issue nearly 2.8 bln shares for dividend payment

Vietnam's Big 4 lender Vietcombank to issue nearly 2.8 bln shares for dividend payment

Vietcombank will expand its chartered capital from VND55,891 billion to VND83,557 billion ($3.29 billion) via an issuance of shares to pay dividends, becoming the largest bank in Vietnam by chartered capital.

Banking - Thu, January 16, 2025 | 7:58 pm GMT+7

Indonesia exports $1.5 million worth of steel to New Zealand

Indonesia exports $1.5 million worth of steel to New Zealand

Indonesian Trade Minister Budi Santoso on Wednesday sent off export consignments of welded beam steel, measuring 1,200 metric tons and valued at $1.5 million, to New Zealand, reported national news agency Antara.

Southeast Asia - Thu, January 16, 2025 | 7:17 pm GMT+7

Vietnam to build Ninh Thuan nuclear power plant within 5 years

Vietnam to build Ninh Thuan nuclear power plant within 5 years

Vietnam strives to complete building its Ninh Thuan nuclear power plant in five years (by 2030), towards the 100th anniversary of the Communist Party of Vietnam (1930-2030).

Energy - Thu, January 16, 2025 | 5:06 pm GMT+7

Malaysia, UK discuss elevating relations to strategic partnership

Malaysia, UK discuss elevating relations to strategic partnership

Malaysian Prime Minister Datuk Seri Anwar Ibrahim and his UK counterpart Keir Starmer discussed the elevation of bilateral relations to a strategic partnership during their talk in London on Wednesday.

Southeast Asia - Thu, January 16, 2025 | 3:30 pm GMT+7

Thailand’s Central Retail opens $11 mln GO! hypermarket in central Vietnam

Thailand’s Central Retail opens $11 mln GO! hypermarket in central Vietnam

Thailand’s leading retailer Central Retail opened a hypermarket per its GO! model in Vietnam’s south-central province of Ninh Thuan on Wednesday.

Industries - Thu, January 16, 2025 | 3:29 pm GMT+7

Investment Support Fund: A Strategic leap for Vietnam's economic future

Investment Support Fund: A Strategic leap for Vietnam's economic future

The Vietnamese Government's Decree No. 182/2024/ND-CP, which outlines the establishment, management and use of the Investment Support Fund, represents not just policy instruments for attracting investment but also foundations for advancing strategic sectors and elevating the country's position in the global economy, writes Tran Anh Son, tax & legal director, Global Innovation and Investment Incentives (Gi3), Deloitte Vietnam.

Economy - Thu, January 16, 2025 | 2:55 pm GMT+7

Vietnam PM orders appraisal of tax policies to curb property speculation

Vietnam PM orders appraisal of tax policies to curb property speculation

The Ministry of Finance needs to study tax policies to curb property speculation in line with Vietnam’s socio-economic conditions and international practices, Prime Minister Pham Minh Chinh has requested.

Real Estate - Thu, January 16, 2025 | 2:40 pm GMT+7

Vietnam’s budget carrier VietJet can pilot China's Comac aircraft on some routes: Deputy PM

Vietnam’s budget carrier VietJet can pilot China's Comac aircraft on some routes: Deputy PM

China’s state-owned aerospace manufacturer Comac and Vietnam’s budget airline VietJet should collaborate with a Chinese airline having Comac aircraft to pilot Comac aircraft on some of VietJet routes, says Vietnamese Deputy Prime Minister Tran Hong Ha.

Companies - Thu, January 16, 2025 | 12:26 pm GMT+7

Offshore wind power investors can sell entire projects in Vietnam: draft decree

Offshore wind power investors can sell entire projects in Vietnam: draft decree

A draft decree on offshore wind power being compiled by Vietnam’s Ministry of Industry and Trade will facilitate investors to sell their projects or stakes.

Energy - Thu, January 16, 2025 | 11:27 am GMT+7

Build your own sales channels if e-commerce competition too harsh: NextTech exec 

Build your own sales channels if e-commerce competition too harsh: NextTech exec 

If e-commerce competition is too harsh, Vietnamese businesses should develop their own sales channels and customer databases, says Nguyen Hoa Binh, founder and chairman of NextTech Group, a leading technology startup in Vietnam.

Economy - Thu, January 16, 2025 | 9:05 am GMT+7

Indonesia moves to secure domestic pharmaceutical independence

Indonesia moves to secure domestic pharmaceutical independence

Indonesia's Health Ministry is working to achieve domestic pharmaceutical independence through research and development, production, and market guarantees.

Southeast Asia - Thu, January 16, 2025 | 8:09 am GMT+7

Malaysia cooperates with UAE in AI development, digital transformation

Malaysia cooperates with UAE in AI development, digital transformation

Malaysian Prime Minister Anwar Ibrahim has said that the country must embark on digital transformation within its economic and financial sectors, prioritizing areas such as blockchain and cryptocurrency to remain at the forefront of the digital age.

Southeast Asia - Wed, January 15, 2025 | 11:00 pm GMT+7

Thai billionaire seeks to increase stake in Vietnam dairy gaint Vinamilk

Thai billionaire seeks to increase stake in Vietnam dairy gaint Vinamilk

F&N Dairy Investments Pte. Ltd - an entity associated with Thai billionaire Charoen Sirivadhanabhakdi - has registered to purchase nearly 20.9 million shares of Vietnamese dairy giant Vinamilk (HoSE: VNM).

Companies - Wed, January 15, 2025 | 10:54 pm GMT+7

Vietnam PM leaves for official visits to Poland, Czech, WEF meeting

Vietnam PM leaves for official visits to Poland, Czech, WEF meeting

Prime Minister Pham Minh Chinh departed Hanoi on Wednesday afternoon for official visits to Poland and the Czech Republic, attendance at the 55th World Economic Forum (WEF) Annual Meeting in Davos, and bilateral meetings in Switzerland.

Politics - Wed, January 15, 2025 | 10:31 pm GMT+7

Malaysia’s manufacturing sector sees positive signs in 2025

Malaysia’s manufacturing sector sees positive signs in 2025

Malaysia’s manufacturing sector is forecast to recover well in 2025 as global trade dynamics and geopolitical shifts influence market trends.

Southeast Asia - Wed, January 15, 2025 | 10:06 pm GMT+7

Thailand posts record investment last year

Thailand posts record investment last year

Thailand saw record investment figures for 2024, with applications exceeding THB1.13 trillion ($32.5 billion), the highest in the past decade, according to the country’s Board of Investment (BOI).

Southeast Asia - Wed, January 15, 2025 | 10:05 pm GMT+7