Vietnam to consider nuclear power as primary source, expedite offshore wind projects
Vietnam’s Ministry of Industry and Trade has been tasked with studying development of nuclear power as a primary energy source, according to a document released by the Government Office on Thursday.
The document stipulates that the ministry (MoIT) must comprehensively review the sources of energy stipulated in the national power development plan VIII (PDP VIII) to ensure energy security and annual power supply growth of 12-15%, given economic growth projections of over 7% per year in case the U.S. Fed cuts rates.
A possible solution is to switch from coal-fired to gas-fired power as a primary power source, while nuclear power is also an option, it says. The nuclear option is subject to approval of the Politburo, the highest decision-making body in Vietnam.
A wind power farm in Ninh Thuan province, south-central Vietnam. Photo courtesy of Thanh Nien (Young People) newspaper.
The MoIT was also asked to cooperate with local authorities, Petrovietnam, and Vietnam Electricity (EVN) to soon complete the draft amended Law on Electricity.
For issues like pricing and technical requirements, a suitable option is to set basic principles in the law and let the government set details, the document notes.
A working group was established to fix legal issues regarding implementation of power projects, led by Minister of Industry and Trade Nguyen Hong Dien. Petrovietnam chairman Le Manh Hung and EVN chairman Dang Hoang An will be vice heads.
The working group must complete the draft amended Law on Electricity by September 20 and submit it to the National Assembly for approval in the upcoming plenum due to convene next month.
Regarding a pilot scheme to deploy offshore wind power projects per a new Politburo decision for the oil and gas sector, Deputy Prime Minister Bui Thanh Son was asked to assign agencies to deploy the scheme immediately, while challenges related to pricing and output could be discussed later.
In 2009, Vietnam approved a 4,000-MW Ninh Thuan nuclear power plant project, with Ninh Thuan 1 and Ninh Thuan 2 facilities. In November 2016, the National Assembly put the project on hold. Since then, the south-central province of Ninh Thuan has been developing into a renewable energy hub.
- Related News
- Read More
Work on $92 mln eco-urban resort project starts in northern Vietnam tourist hotspot
A consortium of Hong Phong ID Co. Ltd. and Ecopark Hai Duong JSC has broken ground on a VND2.42 trillion ($91.97 million) eco-urban tourism project in Vietnam's northern border province of Lao Cai.
Real Estate - Fri, May 1, 2026 | 9:08 pm GMT+7
Royal Shore Beachclub announces grand opening in Hoi An
Royal Capital Group on Thursday announced the grand opening of its newest beachfront destination, set along the pristine coastline of Hoi An.
Travel - Fri, May 1, 2026 | 6:48 pm GMT+7
Novaland posts Q1 profit of $33 mln, shares hit three-year high
Novaland (HoSE: NVL) reported a strong turnaround in the first quarter of 2026, swinging to a net profit of VND860 billion ($32.63 million) from a loss a year earlier, as revenue doubled on increased property handovers.
Companies - Fri, May 1, 2026 | 3:09 pm GMT+7
Vinaconex, Vietjet have new CEOs
Vietnamese construction heavyweight Vinaconex on Wednesday appointed deputy CEO Pham Thai Duong as CEO and legal representative, replacing Nguyen Xuan Dong.
Companies - Fri, May 1, 2026 | 2:41 pm GMT+7
Japanese retailer Aeon Mall to build another shopping center in northern Vietnam
Japan’s Aeon Mall is set to invest nearly $150 million in a shopping mall project in the northern province of Bac Ninh, marking a further push into Vietnam’s fast-growing industrial localities.
Industries - Fri, May 1, 2026 | 10:59 am GMT+7
Hyosung Vina raises $7.6 mln in unsecured bond sale
Hyosung Vina Chemicals, the Vietnam arm of South Korean chaebol Hyosung, has completed a VND200 billion ($7.59 million) domestic bond issuance, according to disclosures on the Hanoi Stock Exchange.
Companies - Fri, May 1, 2026 | 10:16 am GMT+7
Vietnam central bank to add new metrics to oversee banking activity
The State Bank of Vietnam is proposing a set of new prudential metrics to strengthen oversight of banking operations, replacing the traditional loan-to-deposit ratio (LDR) with a broader framework aligned with Basel III standards.
Banking - Fri, May 1, 2026 | 8:00 am GMT+7
From national reunification to aspiration for an integrated development space
In 1975, Vietnam united the country through determination and a shared aspiration for independence. Today, in a very different context, the country faces a new challenge: unifying its market through institutional reform, writes Dr. Nguyen Sy Dung, former deputy head of the Office of the National Assembly - the country's legislature.
Economy - Thu, April 30, 2026 | 10:27 pm GMT+7
Vietjet seeks deeper engagement in Vietnam's aviation infrastructure development
Vietjet, Vietnam’s first private airline, has proposed earlier and broader participation in Vietnam’s airport planning and infrastructure development, as the budget carrier looks to expand its role beyond flight operations into ground services and logistics.
Companies - Thu, April 30, 2026 | 9:42 pm GMT+7
Vietnamese giants kick off 4 mega projects in HCMC
The Ho Chi Minh City People’s Committee on Wednesday held a groundbreaking ceremony for four large-scale projects invested by Vietnamese conglomerates including Vingroup, Sun Group and Truong Hai Group (Thaco).
Economy - Thu, April 30, 2026 | 8:01 pm GMT+7
Vingroup starts work on $2.2 bln int'l university township in southern Vietnam
Vietnam’s conglomerate Vingroup (HoSE: VIC) on Wednesday broke ground on a VND59 trillion ($2.24 billion) international university township in Ho Chi Minh City.
Real Estate - Thu, April 30, 2026 | 12:38 pm GMT+7
Chinese firm Livzon secures control of Vietnam’s pharma giant Imexpharm in $228 mln deal
Lian SGP Holding Pte. Ltd., a Singapore-based entity wholly owned by China’s Livzon Pharmaceutical Group Inc., has acquired a controlling stake in Vietnam’s pharma giant Imexpharm (HoSE: IMP) following a public tender offer.
Companies - Thu, April 30, 2026 | 12:22 pm GMT+7
Sun Group partners with Keppel to drive green transition across tourist places
Vietnam’s leading real estate developer Sun Group has signed a strategic partnership with Keppel EaaS Vietnam, part of Singapore’s Keppel Ltd., to accelerate energy optimization and decarbonization across its tourism destinations.
Real Estate - Thu, April 30, 2026 | 10:42 am GMT+7
'Shark Hung' unexpectedly resigns from real estate brokerage Cen Land ahead of AGM
Pham Thanh Hung, widely known as “Shark Hung”, has stepped down from the board of directors at Century Real Estate JSC (Cen Land) - a major Vietnamese real estate brokerage, citing "personal plans".
Companies - Thu, April 30, 2026 | 10:32 am GMT+7
Japanese FDI in Vietnam: From manufacturing hub to strategic capital flows
Japanese investment in Vietnam is shifting away from a factory-led model toward a long-term ecosystem spanning manufacturing, energy, industrial parks, retail, and banking-financial services.
Economy - Thu, April 30, 2026 | 7:11 am GMT+7
Keppel files arbitration against partners in $1.2 bln southern Vietnam project
Singapore conglomerate Keppel Ltd. has initiated arbitration proceedings against three partners in a $1.2 billion residential and mixed-use urban project in Vietnam’s southern metropolis hub of Ho Chi Minh City.
Real Estate - Wed, April 29, 2026 | 9:54 pm GMT+7
