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).
Prime Minister Pham Minh Chinh, head of the National Steering Committee on building nuclear power plants, announced the target at a Wednesday meeting of the committee.
Prime Minister Pham Minh Chinh (center), Deputy Prime Minister-Minister of Foreign Affairs Bui Thanh Son (left), and Minister of Industry and Trade Nguyen Hong Dien at a meeting in Hanoi, January 15, 2025. Photo courtesy of the government's news portal.
The Prime Minister highlighted that nuclear power development with an annual growth of 15-18% is inevitable to facilitate the country's yearly economic growth of at least 10%.
"Nuclear technology for peaceful purposes, such as energy and healthcare, can help the country achieve leapfrog growth in the 'new era',” he added.
State utility Vietnam Electricity (EVN) must assess the country's nuclear power workforce, currently at about 400 people, to prepare training programs.
Chinh also requested Ninh Thuan province to prepare infrastructure for the project, like investing in or calling for investments in Thanh Son airport.
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 January 2024, EVN urged the Prime Minister to assign it as investor of the Ninh Thuan nuclear power plant. Deputy Minister of Industry and Trade Nguyen Hoang Long said the ministry is drafting a proposal to assign EVN as the nuclear power developer in the country.
- Related News
- Read More
Taiwanese apparel material supplier Paiho injects additional $120 mln into southern Vietnam unit
Paihong Vietnam Co. Ltd., a unit of Taiwan-based Paiho Shih Holdings Corporation serving the footwear and apparel industries, has decided to raise capital by $120 million through the issuance of 120 million new shares.
Industries - Sun, May 10, 2026 | 5:28 pm GMT+7
Vietnam calls for expanded flexible financing tools from ADB
Prime Minister Le Minh Hung has called on the Asian Development Bank (ADB) to expand flexible and preferential financing instruments better suited to Vietnam’s funding needs for development investment in the coming period.
Economy - Sun, May 10, 2026 | 4:08 pm GMT+7
Asia’s leading luxury travel magazine hails Hanoi's new opera house: 'Move aside, Sydney'
Even while under construction, the new Hanoi Opera House at West Lake has become a focal point for international media.
Companies - Sun, May 10, 2026 | 11:21 am GMT+7
Duc Giang Chemicals CEO reassures shareholders, accepts profit erosion pressure
CEO of Duc Giang Chemicals Group JSC (HoSE: DGC) Luu Bach Dat admitted shortcomings in the company’s legal compliance following the arrest of senior executives and pledged to close regulatory loopholes to prevent similar issues in the future.
Companies - Sun, May 10, 2026 | 10:54 am GMT+7
Vietnam developer Saigonres plans $650 mln investment for next 5 years
Saigon Real Estate Group JSC (Saigonres) plans total investment of VND17.11 trillion ($650.37 million) for 2026-2030, implying average annual capital demand of about VND3-4 trillion ($114-152 million).
Real Estate - Sun, May 10, 2026 | 10:15 am GMT+7
Firms must abandon five leadership habits to navigate AI era: FPT CEO
The important thing is not to chase AI, but to apply AI to solve the right organizational problems, said Nguyen Van Khoa, CEO of FPT Corporation, a leading technology company in Vietnam.
Companies - Sun, May 10, 2026 | 8:00 am GMT+7
Trung Nam Group's solar power arm suffers $37 mln loss amid rising debt pressure
Trung Nam Thuan Nam Solar Power Company Limited, a subsidiary of the multi-sector Trung Nam Group, incurred a net loss of VND969 billion ($36.83 million) in 2025, reversing a profit of VND138.2 billion ($5.35 million) a year earlier, according to its 2025 earnings statement.
Companies - Sat, May 9, 2026 | 3:01 pm GMT+7
French firms eye Vietnam’s North-South high-speed railway project
A delegation of 15 major French companies and industrial groups has expressed interest in participating in Vietnam’s planned North-South high-speed railway project.
Infrastructure - Sat, May 9, 2026 | 2:38 pm GMT+7
Grocery chain Bach Hoa Xanh opens 1st store in Hanoi, takes cautious northern Vietnam expansion approach
Bach Hoa Xanh, a grocery chain operated by Vietnam’s leading retailer Mobile World Investment Corporation (HoSE: MWG), has opened its first store in Hanoi, marking entry into one of the country’s most competitive consumer markets.
Companies - Sat, May 9, 2026 | 8:17 am GMT+7
Intel to continue expanding investment in Vietnam: exec
U.S. chipmaker Intel will continue expanding investment, supporting workforce training, and helping develop Vietnam’s semiconductor ecosystem as the country refines investment support mechanisms to retain large-scale high-tech projects, said its executives.
Industries - Fri, May 8, 2026 | 7:48 pm GMT+7
Vietnam stocks extend rally to fresh record high
Vietnam’s benchmark VN-Index extended gains for a fourth straight session on Thursday, closing at a new all-time high of 1,915.37 points as large-cap banking and property stocks supported the market despite continued foreign selling.
Finance - Fri, May 8, 2026 | 5:49 pm GMT+7
Vingroup’s VinMetal partners with Primetals for green steel complex in central Vietnam
Vingroup’s subsidiary VinMetal has signed a strategic cooperation agreement with global steel giant Primetals Technologies to develop a large-scale integrated steel complex in central Vietnam.
Industries - Fri, May 8, 2026 | 4:25 pm GMT+7
Hanoi pushes Sumitomo, BRG to accelerate $4.2 bln smart city project
Hanoi authorities have asked Japan’s Sumitomo and local conglomerate BRG Group to quicken the progress of the North Hanoi Smart City project as soon as legal procedures are finalized.
Real Estate - Fri, May 8, 2026 | 3:31 pm GMT+7
Moody's Ratings upgrades MBBank's deposit ratings to Ba2 from Ba3, outlook stable
Moody’s Ratings (Moody’s) has announced an upgrade of the local currency and foreign currency long-term deposit and issuer ratings for Military Commercial Joint Stock Bank (MB, HoSE: MBB) from Ba3 to Ba2, aligning with Vietnam’s sovereign rating (Ba2 positive). The outlook remains "Stable."
Banking - Fri, May 8, 2026 | 3:00 pm GMT+7
Vietnam welcomes leading Indian groups to expand energy, infrastructure cooperation: top leader
Vietnam is ready to create favorable conditions for capable Indian corporations and businesses to expand investment and operations in the country in line with its laws, while ensuring transparency and balanced interests among stakeholders, said Vietnam’s Party chief and President To Lam.
Economy - Fri, May 8, 2026 | 1:59 pm GMT+7
Vietnam airport operator ACV records slows disbursement for Long Thanh mega-airport project
Airports Corporation of Vietnam's (ACV) slow disbursement for the Long Thanh International Airport project, located in the southern province of Dong Nai, highlights implementation bottlenecks despite the company's strong profitability in Q1/2026 and substantial cash reserves for the country's largest aviation infrastructure project.
Companies - Fri, May 8, 2026 | 1:41 pm GMT+7
