Vietnam's Politburo requests early implementation of Ninh Thuan nuclear power project

The Politburo, Vietnam'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 the newly-released 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.

Ninh Thuan 1 will be located in Phuoc Dinh commune, Thuan Nam district, and Ninh Thuan 2 in Vinh Hai commune, Ninh Hai district, both in the former province of Ninh Thuan. State giants EVN and Petrovietnam have been named as the respective investors.

Ninh Thuan and Khanh Hoa, home to the beach town of Nha Trang, were recently merged to form the new Khanh Hoa.

The Government has planned to deploy a special mechanism for investing in the Ninh Thuan nuclear power project.

The Ministry of Industry and Trade has been assigned to work with relevant parties to negotiate and sign international treaties with partners on investment cooperation to develop the two plants. This will be completed in September for Ninh Thuan 1 and in December for Ninh Thuan 2.

The Ministry of Finance has been tasked with completing negotiations and signing credit agreements for Ninh Thuan 1 in September and for Ninh Thuan 2 within next March.

EVN and PVN must submit documents asking for approval of investment policy adjustments by competent authorities. This is expected to be completed during the National Assembly session in October-November 2025 for Ninh Thuan 1 and by May 2026 at the latest for Ninh Thuan 2.

Afterward, the State Appraisal Council, chaired by the Ministry of Finance, will appraise and submit to the Prime Minister for approval of the investment project and location in 2026.

In addition to the two nuclear power plants in Khanh Hoa province, the Politburo requests compilation of a program to develop nuclear power on flexible scales and small modular nuclear power plants.

Operators need to increase investment in research and development of atomic energy technology, gradually master nuclear power technology including nuclear reactor technology, and select advanced technology.

This must be suitable to Vietnam's conditions, ensuring absolute security and safety and optimizing overall socio-economic efficiency, while encouraging state-owned and private enterprises to participate in the development of small modular nuclear power, according to the resolution.

In 2005, the Party Central Committee greenlighted a plan to build two nuclear power plants in Ninh Thuan. Four years later, the parliament approved the plan with an initial investment of VND200 trillion ($7.59 billion).

In November 2016, the parliament decided to halt the 4,000 MW project, citing safety, funding and technology reasons. However, in November 2024, the legislative body agreed to resume the project after an eight-year suspension.

A notice released by the Government Office in June said developing power sources, including nuclear energy, is vital to ensuring energy security and sustaining Vietnam’s projected double-digit economic growth. The country’s 2050 net-zero commitment also demands an accelerated shift toward clean, green, and renewable energy.