US shows interest in Vietnam’s nuclear power project funding plan

The U.S. has expressed interest in Vietnam’s financial plan for the Ninh Thuan nuclear power plant project in the south-central region.

During a meeting with Vietnamese Deputy Minister of Finance Do Thanh Trung in Hanoi on Monday, Ann K. Ganzer, principal deputy assistant secretary in the Bureau of International Security and Nonproliferation at the U.S. Department of State, highlighted the increasing demand for electricity, particularly from data centers and semiconductor manufacturing.

She noted that nuclear power has been incorporated into Vietnam’s power development plan to meet this growing need.

Given these developments, she emphasized that the two countries have a valuable opportunity to collaborate in this sector.

Deputy Finance Minister Trung provided an overview of the Ninh Thuan nuclear power plant project, outlining the special mechanisms and policies established for its implementation.

He called on the U.S. government to encourage American investors to expand cooperation with Vietnam, particularly in high technology, aviation, aerospace, and defense, especially in research and development (R&D) and technology transfer.

Trung also called for U.S. support in workforce training, emphasizing that such collaboration would strengthen bilateral relations and further integrate Vietnam into the global supply chain.

On the same day, Deputy Minister of Industry and Trade Nguyen Hoang Long also met with Ann K. Ganzer. During their discussion, he affirmed Vietnam’s desire to work with the U.S. in nuclear power development.

Long proposed that both sides collaborate in technology, workforce training, and funding mobilization to advance Vietnam’s nuclear energy initiatives.

In February 2025, Prime Minister Pham Minh Chinh assigned state-owned groups EVN and PVN to be investors of Ninh Thuan 1 and 2 nuclear power plants, respectively.

The PM also requested the Ministry of Industry and Trade to coordinate with relevant agencies to get nuclear power plants built towards completion by end-2030, or end-2031 at the latest.

Many countries have expressed their willingness to coooperate with Vietnam in nuclear power, such as South Korea, Russia, Japan, and France.