Vietnam's Nuclear Power Plans: Resumption for Energy Security and Economic Growth

Vietnam is considering resuming its nuclear power development plans to ensure national energy security and support economic growth. The Ministry of Industry and Trade is tasked to research other countries' experiences and propose a development plan. Past nuclear projects were shelved in 2016 due to budget constraints and the Fukushima disaster.

Vietnam is revisiting its nuclear power development plans to bolster national energy security and sustain economic growth, according to a government document reviewed by Reuters. The country, a major industrial hub in Southeast Asia, currently depends heavily on coal-generated power and aims to enhance its clean energy production by 2050.

The Ministry of Industry and Trade has been assigned to study the nuclear power experiences of other nations and draft a proposal for Vietnam's nuclear power development. This proposal will be submitted to the Politburo, Vietnam's top decision-making body, for consideration. The ministry did not respond immediately to requests for comments.

Vietnam aims to increase its power generation capacity by 12%-15% annually to secure energy needs and support a 7% yearly economic growth rate. Previous nuclear projects, planned in collaboration with Russia and Japan, were shelved in 2016 due to financial constraints and the Fukushima nuclear disaster.

(With inputs from agencies.)