Vietnam, Hanoi: Vietnam and Russia have signed a deal to build the Ninh Thuan 1 nuclear power plant, marking a revival of Hanoi’s nuclear ambitions. The agreement was finalised during Prime Minister Phạm Minh Chính’s visit to Moscow, where he met Russian Prime Minister Mikhail Mishustin.
The project plans two Russian-designed reactors with a combined capacity of 2,400 MW, based on an existing plant in Russia. It comes after two earlier nuclear projects in Vietnam were shelved in 2016 due to rising costs and safety concerns.
Officials describe the plant as a “symbolic project” reflecting long-standing ties between the two countries. The deal supports Vietnam’s broader goal of enhancing energy security, providing stable, low-emission electricity, and contributing to the nation’s economic growth ambitions through 2050.
Rising energy costs following global supply disruptions, including conflicts affecting oil and gas markets, have added urgency to Vietnam’s search for reliable, long-term power sources. Across Southeast Asia, fast-growing economies are increasingly considering nuclear power for its lower emissions and stable output compared with fossil fuels.
During the Moscow meetings, Vietnam and Russia also discussed oil and gas cooperation, technology, and infrastructure projects, highlighting broader economic and energy collaboration. Vietnam and Russia have maintained diplomatic ties since 1950, though trade remains modest, rising from $3.63 B in 2023 to $4.77 B in 2025.
Source: ABC News
