US to support Indonesia in developing small modular nuclear reactors

By Vietnam News Agency
Sat, November 16, 2024 | 12:13 am GMT+7

The U.S. has pledged to assist Indonesia in accelerating the development of small modular nuclear reactors (SMRs), according to Indonesia's Presidential Office.

Indonesian President Prabowo Subianto holds bilateral talks with his American counterpart Joe Biden at the White House in Washington on November 12, 2024. Photo courtesy of Presidential Press Bureau.

Indonesian President Prabowo Subianto holds bilateral talks with his American counterpart Joe Biden at the White House in Washington on November 12, 2024. Photo courtesy of Presidential Press Bureau.

The commitment was made during a meeting between Indonesian President Prabowo Subianto and U.S. President Joe Biden at the White House on Tuesday.

During the meeting, both leaders emphasized strengthening scientific and technological collaboration, including advancing SMR technology.

The International Atomic Energy Agency (IAEA) defines SMRs as advanced nuclear reactors with a power capacity of up to 300 MW(e) per unit, about one-third the capacity of traditional nuclear reactors.

A joint statement from the meeting highlighted the U.S.'s commitment to supporting Indonesia in SMR technology development, including expediting ongoing research.

The U.S. will explore opportunities to enhance Indonesia's capabilities through nuclear evaluation programmes.

President Biden acknowledged Indonesia's critical role in the global clean energy transition.

In 2023, the U.S. Trade and Development Agency signed a technical assistance agreement with PT PLN Indonesia Power, a subsidiary of Indonesia's state electricity company, to support nuclear energy development. This included a $2.3 million grant to assess the feasibility of an SMR in West Kalimantan.

Indonesia, aiming for net-zero emissions by 2060, currently operates three nuclear reactors, exclusively for research purposes.

Comments (0)
  • Read More
Singapore's venture capital market grows increasingly attractive

Singapore's venture capital market grows increasingly attractive

Despite a slump in funding, Singapore’s venture capital market remained active in the first nine months, The Straits Times reported.

Southeast Asia - Sat, November 16, 2024 | 12:08 am GMT+7

VinFast CEO-owned firm secures extra deal to lease EVs to ride-hailing firm

VinFast CEO-owned firm secures extra deal to lease EVs to ride-hailing firm

A taxi service provider based in Vietnam’s central province of Binh Dinh will lease 1,000 VinFast electric cars from an electric vehicle (EV) leasing firm that is 90% owned by billionaire Pham Nhat Vuong, the CEO of the Vietnamese carmaker.

Companies - Fri, November 15, 2024 | 8:35 pm GMT+7

Chinese, Vietnamese firms plan $2 bln renewable energy-hydrogen project

Chinese, Vietnamese firms plan $2 bln renewable energy-hydrogen project

3TI Progetti Asia, a local planning-design business, and two Chinese firms plan to invest $2 billion in a hydrogen production project using renewable energy in Vietnam's south-central province of Ninh Thuan.

Energy - Fri, November 15, 2024 | 7:35 pm GMT+7

US Treasury retains Vietnam on ‘monitoring list’ for currency management

US Treasury retains Vietnam on ‘monitoring list’ for currency management

Vietnam, a major trading partner, remains on the U.S. Treasury Department’s “monitoring list,” the department has affirmed in its November 2024 report to the Congress.

Economy - Fri, November 15, 2024 | 4:48 pm GMT+7

Vietnam developer Becamex IDC plans to auction 300 mln shares

Vietnam developer Becamex IDC plans to auction 300 mln shares

Becamex IDC Corp, a leading eco-industrial and urban real estate developer in Vietnam, plans to auction 300 million shares with a minimum starting price of VND50,000 ($1.97) apiece on the Ho Chi Minh Stock Exchange (HoSE).

Companies - Fri, November 15, 2024 | 4:43 pm GMT+7

Vietnam shares end in red as US dollar climbs to new high

Vietnam shares end in red as US dollar climbs to new high

The U.S. dollar has strengthened against the Vietnamese dong to reach a fresh high on Friday, hampering investor sentiment on the stock market.

Finance - Fri, November 15, 2024 | 4:34 pm GMT+7

IFC invests $1.6 bln in Vietnam, focusing on green transition, private sector resilience

IFC invests $1.6 bln in Vietnam, focusing on green transition, private sector resilience

IFC, the private sector lending arm under the World Bank Group, has committed to provided loans totaling over $1.6 billion, including more than $750 million in long-term finance, in Vietnam in its fiscal year ending June 30.

Banking - Fri, November 15, 2024 | 3:09 pm GMT+7

Danang free trade zone earmarked as integrated business urban area

Danang free trade zone earmarked as integrated business urban area

Danang city in central Vietnam has proposed the establishment of a free trade zone (FTZ) as an integrated business urban area to fully capitalize on the city's development advantages.

Economy - Fri, November 15, 2024 | 2:49 pm GMT+7

Vietnam mulls tax relief for Thailand SCG, Korea Hyosung's petrochemicals projects

Vietnam mulls tax relief for Thailand SCG, Korea Hyosung's petrochemicals projects

Deputy Prime Minister Tran Hong Ha has asked the Ministry of Finance to discuss and draft feasible solutions regarding import-export taxes per suggestions of Long Son Petrochemicals and Hyosung Vina Chemicals.

Industries - Fri, November 15, 2024 | 12:49 pm GMT+7

LG Display invests $1 bln more in Vietnam, $5.65 bln in total

LG Display invests $1 bln more in Vietnam, $5.65 bln in total

LG Display, under South Korea’s chaebol LG, will invest $1 billion more in Vietnam’s northern coastal city of Hai Phong, scaling up its investment in the locality to $5.65 billion.

Industries - Fri, November 15, 2024 | 10:17 am GMT+7

Central Vietnam province Binh Dinh proceeds with 150 MW wind power plant

Central Vietnam province Binh Dinh proceeds with 150 MW wind power plant

The administration of Binh Dinh province in south-central Vietnam has announced it will proceed with a VND5.5 trillion ($230 million) investment plan to build a 150 MW wind power plant.

Energy - Fri, November 15, 2024 | 9:32 am GMT+7

Vietnam real estate credit situation positive despite bond risks: VIS Rating exec

Vietnam real estate credit situation positive despite bond risks: VIS Rating exec

Credit accessed by Vietnamese real estate businesses has risen by 15-16% so far this year, said Duong Duc Hieu, director of rating and research at Hanoi-based Vietnam Investors Services (VIS Rating).

Real Estate - Fri, November 15, 2024 | 7:45 am GMT+7

WB approves $750 mln loan to boost Philippines' digital transformation

WB approves $750 mln loan to boost Philippines' digital transformation

The World Bank (WB) approved a loan of $750 million on Wednesday to help boost digital transformation in the Philippines.

Southeast Asia - Thu, November 14, 2024 | 10:12 pm GMT+7

Google forecasts Indonesia to become Southeast Asia’s largest digital economy

Google forecasts Indonesia to become Southeast Asia’s largest digital economy

A new report by Google, Temasek, and Bain & Company projects that Indonesia's digital economy will reach a gross merchandise value (GMV) of $90 billion in 2024, an annual increase of 13% and the largest figure in Southeast Asia.

Southeast Asia - Thu, November 14, 2024 | 10:06 pm GMT+7

Sekisui Heim Group targets low-cost housing investment in Vietnam

Sekisui Heim Group targets low-cost housing investment in Vietnam

Japan’s Sekisui Heim Group is looking to implement affordable and social housing projects in Vietnam, says Ryuji Saimon, a representative of the group’s subsidiary, Thai SCG Heim.

Real Estate - Thu, November 14, 2024 | 9:53 pm GMT+7

Thailand launches digital durian initiative to boost farmers’ income

Thailand launches digital durian initiative to boost farmers’ income

Thailand’s Digital Economy Promotion Agency (DEPA) has kicked off the One Tambon, One Digital (OTOD) "Digital Durian" project to help 8.8 million durian farmers improve their productivity and set Thai durian standards using digital platforms and innovations.

Southeast Asia - Thu, November 14, 2024 | 9:03 pm GMT+7