Vietnam insists on completing nuclear power plants by 2031 at latest
Vietnam's Ministry of Industry and Trade must coordinate with relevant agencies to get nuclear power plants built towards completion by end-2030, or end-2031 at the latest, according to a prime ministerial conclusion.
According to the document, released following a recent meeting of the national steering committee on nuclear power plant construction, the cabinet chief asked the ministry to collaborate with state-owned giants Vietnam Electricity (EVN) and Petrovietnam (PVN) in preparing for building the Ninh Thuan 1 and Ninh Thuan 2 power plants, respectively.
PM Pham Minh Chinh (standing) chairs a meeting of the national steering committee on nuclear power plant construction in Hanoi, February 4, 2025. Photo courtesy of Nhan Dan (The People) newspaper.
The 2030 timeline aims to commemorate the 100th anniversary of the Communist Party of Vietnam (1930-2030) and 85 years of Vietnam (1945-2030), the PM emphasized.
The Prime Minister also requested EVN and PVN to work with the ministry and relevant agencies to prepare for cooperation with foreign partners, such as Russia, Japan, the United States, South Korea, and France.
The cooperation can prioritize "traditional" partners but must also take into account all possible situations. The nuclear power projects can feature new details like capacity and investment levels, in line with negotiations with partners.
In 2005, Vietnam's Party Central Committee had greenlighted a plan to build two nuclear power plants in the south-central province of Ninh Thuan. Four years later, the parliament approved the plan with an initial investment of VND200 trillion ($7.9 billion at the current forex rate).
In November 2016, the parliament decided to halt the 4,000 MW project, citing safety, funding and technology reasons. In November 2024, it agreed to resume the nuclear power project in Ninh Thuan after an eight-year suspension.
In its latest draft amendments to the national power development plan VIII (PDP VIII), the Ministry of Industry and Trade said Russia has experiences in developing nuclear power projects in Belarus, Türkiye, Bangladesh, and Egypt in 7-8 years (from construction to commercial operation).
The ministry also pointed out that the earliest possible timeline for operation of nuclear power plants is 2035.
- Related News
- Read More
TikTok Shop narrows gap with Shopee as Vietnam e-commerce becomes duopoly
Vietnam’s e-commerce market is rapidly evolving into a two-player battleground as TikTok Shop aggressively gains ground on Shopee, reshaping how consumers shop online and how brands allocate advertising and sales budgets.
Economy - Wed, June 3, 2026 | 4:51 pm GMT+7
Vietnam regulator confirms foreign ownership limits for PV Drilling, PVTrans
Vietnam’s securities regulator has confirmed foreign ownership limits for two major state-controlled oil and gas companies, leaving significant room for overseas investors to increase holdings in both firms.
Companies - Wed, June 3, 2026 | 4:34 pm GMT+7
Vietnam power firms post strong profits as heatwave drives electricity demand, but stocks lag
Vietnamese power producers reported sharply higher first-quarter profits as electricity demand surged amid prolonged heatwaves, although their shares have yet to reflect the sector's improving fundamentals.
Companies - Wed, June 3, 2026 | 3:35 pm GMT+7
Nghe An emerges as leading FDI destination with Quynh Lap LNG power project, WHA industrial zone development
Nghe An province is cementing its status as a premier destination for foreign direct investment (FDI) in Vietnam.
Industries - Wed, June 3, 2026 | 1:37 pm GMT+7
K-Pop mogul-linked $99 mln entertainment, tourism project in central Vietnam clears key hurdle
A nearly VND2.6 trillion ($98.74 million) entertainment and tourism project backed by a company associated with K-pop mogul Lee Soo Man has cleared a major regulatory hurdle after Gia Lai province authorities okayed the conversion of more than 191 hectares of forest land for its implementation.
Real Estate - Wed, June 3, 2026 | 12:26 pm GMT+7
Vietnam industrial real estate enters race for new capital
As foreign direct investment becomes increasingly selective and low costs cease to be a competitive advantage, Vietnam’s industrial real estate developers are being forced to reinvent themselves, demonstrating project execution capabilities, cost management expertise, and compliance with green standards.
Industrial real estate - Wed, June 3, 2026 | 11:26 am GMT+7
Golden Gate targets 200% profit hike as restaurant operator accelerates expansion
Vietnamese restaurant operator Golden Gate Group is targeting record revenue and a sharp rebound in profit in 2026 as the company accelerates expansion across its dining and beverage chains, including efforts to revive coffee brand The Coffee House.
Companies - Wed, June 3, 2026 | 8:00 am GMT+7
PVFCCo wins two awards for digital transformation, smart manufacturing
PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo), Vietnam's leading fertilizer producer, received two awards at the Vietnam I4 Impact Awards 2026, recognizing its achievements in smart manufacturing and digital services as the company accelerates its digital transformation strategy.
Companies - Tue, June 2, 2026 | 5:38 pm GMT+7
Masan Consumer showcases Vietnamese brands at THAIFEX 2026
Masan Consumer took part in THAIFEX – Anuga Asia 2026, one of Asia's largest food and beverage trade exhibitions, as the Vietnamese consumer goods company seeks to expand its international footprint and promote Vietnamese cuisine to global consumers.
Companies - Tue, June 2, 2026 | 5:12 pm GMT+7
Phu My Hung expands northern Vietnam footprint with eco-urban project near Hanoi
Taiwan-backed Phu My Hung is moving ahead with a large eco-urban project in Vietnam’s northern province of Phu Tho as the developer accelerates its expansion beyond Ho Chi Minh City.
Real Estate - Tue, June 2, 2026 | 4:19 pm GMT+7
HSBC provides sustainability-linked trade facilities to Vietnam's leading modern grocery chain Bach Hoa Xanh
HSBC Vietnam has provided short-term sustainability-linked trade facilities to Bach Hoa Xanh Trading JSC, one of Vietnam’s leading modern grocery chains owned by Mobile World Investment Corporation (HoSE: MWG).
Banking - Tue, June 2, 2026 | 3:09 pm GMT+7
Leading Vietnamese insurer Bao Minh targets $76 mln capital base by 2029
Bao Minh Insurance Corporation (BMI) plans to raise its charter capital to VND2 trillion ($75.96 million) by 2029 and maintain a minimum 15% dividend payout, executives said at the insurer's annual shareholder meeting in Ho Chi Minh City on Monday.
Finance - Tue, June 2, 2026 | 1:57 pm GMT+7
Vietnam's central bank to publish FX purchase, reserve data from 2027
The State Bank of Vietnam (SBV) has committed to publishing data on its foreign currency purchases and foreign exchange reserves starting in 2027, according to a joint statement issued by the Vietnamese central bank and the U.S. Treasury Department.
Banking - Tue, June 2, 2026 | 12:08 pm GMT+7
Antesco raises foreign ownership cap to 49% to attract international capital
Following its listing on the Ho Chi Minh Stock Exchange (HoSE), food processor An Giang Fruit-Vegetables & Foodstuff JSC (Antesco) is stepping up efforts to attract international investors through ESG initiatives and a higher foreign ownership limit.
Companies - Tue, June 2, 2026 | 11:11 am GMT+7
State-controlled Hai Phong Port eyes record profit as major port expansion restores market leadership
State-controlled Port of Hai Phong JSC (UPCoM: PHP) is targeting record earnings in 2026 after new deep-water terminals at Lach Huyen helped the company regain its leading position in the northern city of Hai Phong.
Companies - Tue, June 2, 2026 | 8:30 am GMT+7
Vietnam Education Publishing House promotes Vietnamese knowledge, culture abroad
Vietnam Education Publishing House has launched a “Vietnamese Bookshelf” at the Russia-Vietnam Cultural Center in St. Petersburg, marking a key event during “Vietnam Week” in the Russian city.
Companies - Tue, June 2, 2026 | 7:30 am GMT+7
