Vietnam’s Ninh Thuan province 'ready' to deploy nuclear power project
Vietnam's south-central province of Ninh Thuan is ready to deploy tasks in line with its responsibility to restart the country’s nuclear power project, says Ninh Thuan Chairman Tran Quoc Nam.
Nam made the statement at a Wednesday conference on reviewing the performance in 2024 and previewing goals in 2025 for the government and localities.
He urged the government, ministries, and other agencies to soon build a plan for the nuclear power project and update the legal framework and masterplan to push the progress.
Nam also stressed challenges against Ninh Thuan province, including the sluggish renewable energy sector. In 2024, the province recorded 57 incomplete renewable energy projects of 3,700 MW.
A day earlier, at an online conference of the Ministry of Industry and Trade on power supply in 2025-2030, Ninh Thuan said it is pushing site clearance, with the backing of local residents.
On Monday, at its 2024 review, state utility Vietnam Electricity (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.
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.
Per the Prime Minister’s Directive 01/CT-TTg issued on January 3, 2025, the nuclear power project in Ninh Thuan is set to complete within five years.
Vietnam requires approximately 1,200 staff to operate a 2,000 MW nuclear power plant, or 2,400 are needed for two 2,000 MW nuclear power plants in Ninh Thuan.
- Read More
Vietnam to focus on 3 'strategic breakthroughs' for double-digit growth in 2025: Deputy PM
The government is focusing on three "strategic breakthroughs" to achieve a double-digit economic growth for 2025, says Deputy Prime Minister Ho Duc Phoc.
Economy - Wed, January 8, 2025 | 4:58 pm GMT+7
Thailand WHA to start work on 2 industrial park projects in central Vietnam, study 3 more
Thailand’s top industrial park (IP) developer WHA will soon commence work on two industrial parks in Vietnam’s central province of Thanh Hoa and study to build three more.
Industrial real estate - Wed, January 8, 2025 | 4:02 pm GMT+7
Murphy Oil discovers oil at well offshore southern Vietnam
Murphy Cuu Long Tay Oil Ltd., a subsidiary of the U.S.-headquartered Murphy Oil Corporation, has drilled an oil discovery at the Hai Su Vang-1X exploration well offshore southern Vietnam, encountering about 370 feet of net oil pay from two reservoirs.
Companies - Wed, January 8, 2025 | 3:30 pm GMT+7
Vietnam rebounds remarkably amidst global uncertainties: EuroCham
EuroCham's Q4/2024 Business Confidence Index (BCI) report released on Wednesday shows a significant rise in business sentiment, which reflects resilience amidst a turbulent global landscape, in terms of economics, environment, and geopolitics.
Economy - Wed, January 8, 2025 | 1:07 pm GMT+7
Now good time to accumulate Vietnamese stocks with solid fundamentals: Mirae Asset exec
Now is a good time to accumulate Vietnamese stocks with solid fundamentals, as the market is undervalued, corporate profits have recovered, and the market status is to be upgraded, says Kye Kyung Tae, global business strategy director at Mirae Asset Securities.
Finance - Wed, January 8, 2025 | 12:23 pm GMT+7
Fitch rates Vietnam’s realty heavyweight Vinhomes as 'BB-'
Fitch Ratings has announced the long-term issuer default rating (IDR) of Vinhomes, a leading real estate developer in Vietnam and the housing development arm of conglomerate Vingroup, at “BB-“.
Real Estate - Wed, January 8, 2025 | 10:10 am GMT+7
Nearly $83 bln injected into Vietnam’s economy in 2024: central bank
Vietnam's credit growth reached 15.08% in 2024, with more than VND2,100 trillion ($82.77 billion) pumped into the economy, says Dao Minh Tu, Deputy Governor of the State Bank of Vietnam (SBV).
Banking - Wed, January 8, 2025 | 8:34 am GMT+7
Indonesia eyes 7.1% export growth in 2025
Indonesia targets nearly $294.5 billion in exports this year to push the country’s economy towards a growth target of 8% set by President Prabowo Subianto.
Southeast Asia - Tue, January 7, 2025 | 9:50 pm GMT+7
Thailand prepares for global financial market uncertainty
Thailand's central bank (BoT) has pledged to maintain a strong monetary policy framework amid rising global uncertainty, particularly as new policies are expected to be introduced in the US.
Southeast Asia - Tue, January 7, 2025 | 9:43 pm GMT+7
Indonesia joins BRICS as full member
Indonesia is formally joining BRICS as a full member, further expanding the group of major emerging economies, including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the UAE, Brazil's government stated on Monday.
Southeast Asia - Tue, January 7, 2025 | 9:34 pm GMT+7
Malaysia, Singapore set up special economic zone
Malaysia and Singapore on Tuesday inked an agreement to create a new special economic zone for business and investment.
Southeast Asia - Tue, January 7, 2025 | 9:26 pm GMT+7
2025 a year of monetary policy challenge for Vietnam: experts
The State Bank of Vietnam is expected to confront difficulties in monetary policy management in 2025 as VND devaluation pressure will be strong, say experts.
Banking - Tue, January 7, 2025 | 8:14 pm GMT+7
Vietnam inflation hits 3.63% in 2024, below government target
Vietnam's consumer price index (CPI), an indicator of inflation, rose 3.63% in 2024, below the government's target of 4-4.5%.
Economy - Tue, January 7, 2025 | 5:19 pm GMT+7
Thailand IP developer WHA targets to raise investment in Vietnam to $1 bln
Thailand’s top industrial park (IP) developer WHA has invested $310 million in Vietnam since 2017 and aims to raise the figure to $1 billion.
Industrial real estate - Tue, January 7, 2025 | 4:23 pm GMT+7
SHS Securities launches new product package with highly attractive margin loan interest rate
Saigon-Hanoi Securities JSC (SHS) on Monday launched a new product package called SH69, offering outstanding promotions to new customers and those resuming trading.
Companies - Tue, January 7, 2025 | 3:04 pm GMT+7
Northern Vietnam province urges VSIP to build high-tech park
Ha Nam province authorities have called on VSIP, the developer of Vietnam-Singapore Industrial Park (VSIP) facilities, to study and build a high-tech park.
Industrial real estate - Tue, January 7, 2025 | 2:41 pm GMT+7