Vietnam, Russia to speed up agreement for construction of nuclear power plant

Vietnam and Russia have agreed to accelerate discussions and negotiations so as necessary agreements could be signed soon for the construction of Vietnam’s first nuclear power plant in Khanh Hoa province as planned.

Prime Minister Pham Minh Chinh on Monday met with Russian Deputy Prime Minister Alexey Overchuk on the sidelines of the 47th ASEAN Summit and related meetings in Kuala Lumpur, Malaysia.

Both sides agreed to expedite talks and sign key documents to begin construction of the Ninh Thuan 1 nuclear power plant as scheduled.

Vietnam has revived the Ninh Thuan nuclear power project, which is expected to be completed within five years.

The Ninh Thuan 1 plant will be located in Phuoc Dinh commune, Thuan Nam district, while Ninh Thuan 2 will be built in Vinh Hai commune, Ninh Hai district, both in the former Ninh Thuan province.

Ninh Thuan in July was merged into Khanh Hoa province to form the new Khanh Hoa, home to the famous bays of Nha Trang and Cam Ranh.

State-owned giants Vietnam Electricity (EVN) and Petrovietnam (PVN) will be the investors in the two projects.

The Politburo, the country's highest decision-making body, has requested early implementation of the Ninh Thuan 1 and 2 nuclear power projects and putting them into operation in the 2030-2035 period.

Under its Resolution 70, dated August 20, on ensuring national energy security until 2030, with a vision to 2045, the Politburo orders early execution of the projects with suitable partners, ensuring the highest interests of Vietnam while taking into account previous agreements.

The government said nuclear energy development, along with other power sources, is essential to ensure energy security and double-digit economic growth in the coming years. Vietnam has pledged to achieve net-zero emissions by 2050, requiring a shift to clean, renewable and low-carbon energy.

Besides nuclear power, Vietnam and Russia agreed to boost balanced trade and facilitate market access for each other’s goods, particularly agricultural and food products. They pledged to strengthen cooperation in transport and infrastructure, including railway projects.

The two sides will enhance people-to-people exchanges and tourism to deepen mutual understanding. PM Chinh also asked the Russian government to support the Vietnamese community in Russia to settle and contribute more to bilateral relations.

Vietnam values its comprehensive strategic partnership with Russia and prioritizes its practical development, the Vietnamese cabinet leader said. He called on Moscow to increase scholarships for Vietnamese students, especially in fields such as basic science and civil nuclear energy.

Chinh also urged Russia and members of the Eurasian Economic Union to remove safeguard measures against Vietnamese exports.