Vietnam is seeking urgent discussions with Russia in an effort to accelerate its nuclear energy program, flagging risks to the country’s goal of having a reactor in operation by the end of the decade.
The government has asked authorities to “urgently organize negotiations” with Russia to move forward on signing an investment cooperation agreement for development of the Ninh Thuan 1 nuclear power plant in August, according to a statement posted on the Vietnamese government’s website.
Vietnam approved an atomic power development plan in February, following a non-binding agreement on nuclear energy cooperation signed with Russia the month prior. The Southeast Asian nation shelved earlier efforts in 2016 due to high construction costs and safety concerns, but is revisiting nuclear to bolster its energy security and meet economic growth targets.
Authorities have also been asked to work closely with Japan on the possibility of continuing investment cooperation on the Ninh Thuan 2 nuclear power project, which it previously forecast to be operational in 2036 to 2040. The country is seeking to have Ninh Thuan 1 online before the end of 2031 at the latest.
“Negotiations with partners to cooperate in investing in the construction of nuclear power plants are still slower than required,” the statement said. There are risks to the “goal of completing investment and construction work before December 31, 2030” as directed by the prime minister.
This year marks the 75th anniversary of diplomatic relations between Vietnam and Russia. The Southeast Asian nation abstained from condemning Moscow’s war in Ukraine, and has called for diplomacy to resolve the conflict. It’s unclear whether Vietnam plans to import Russian nuclear equipment.
Source: Bloomberg
