Any Hanoi: Vietnam expects an agreement with the Russian Federation on the construction of a nuclear power plant soon

Hanoi returns to dialogue with Moscow on peaceful atom after a long pause. Vietnam is interested in concluding an intergovernmental agreement with the Russian Federation as soon as possible on the construction of the country's first nuclear power plant Ninh Thuan-1, the republic's ambassador to Moscow told Izvestia. Hanoi needs nuclear power due to the rapid growth of GDP and the emergence of a large number of IT companies in need of electricity in the country. Experts also expect demand for Russian small modular reactors and floating nuclear power plants to supply coastal and island regions. At the same time, the republic is trying to diversify investments: the authorities cooperate with both the BRICS countries and the United States. About how Vietnam is trying to become a technological power and how Russia is helping it in this — in the material of Izvestia.

Why does Vietnam need a nuclear power plant

Vietnam is significantly deepening cooperation with the Russian Federation in the field of nuclear energy. In recent years, the socialist republic has shown serious interest in the construction of the country's first nuclear power plant, Ninh Thuan-1, in which Russia is actively helping it.

— We are currently negotiating the construction of the first nuclear power plant. We really hope that an intergovernmental agreement on this project will be signed soon. We believe that Russia has very reliable technologies in the field of nuclear energy, and we hope that we will be able to implement this NPP construction project in the very near future. This is a new area of cooperation between our two countries at the current stage," Vietnamese Ambassador to Russia Dang Minh Khoi told Izvestia.

We are talking about restarting the Ninh Thuan-1 NPP project. Back in 2010, Vietnam and Russia agreed on construction, and preparatory work has even begun. However, in 2016, the country's parliament canceled the project, and construction was frozen. Then Hanoi explained its decision to financial problems, as well as reducing the need for electricity and reducing the cost of its traditional sources.

The republic's leadership took a course towards "green energy", in connection with which coal-fired power plants were abandoned and nuclear projects were frozen, Maria Shcherbenko, a junior researcher at the Center for Vietnam and ASEAN Studies at the ICSA RAS, explained to Izvestia.

— At the same time, it is impossible to ensure the country's energy supply only through renewable energy, which is why difficulties have arisen. In April 2025, adjustments were made to the next national energy plan and nuclear power was returned to the agenda. After that, they began to talk at the official level about resuming the nuclear project and involving Rosatom in this," the expert said.

In January 2025, during the visit of Russian Prime Minister Mikhail Mishustin to the country, a joint communique on a comprehensive cooperation plan until 2030 was signed. A separate block was allocated to the energy sector, including nuclear power. At the same time, Rosatom and the State Corporation Vietnam Electricity (EVN) signed a memorandum of understanding on the development of cooperation in the field of nuclear energy and on the implementation of the Ninh Thuan NPP project. At the end of last year, Russian Ambassador to Hanoi Gennady Bezdetko announced that the agreement was planned to be signed in early 2026.

The increased demand for energy is explained by rapid industrialization, the growth of industry and the technological sector in Vietnam, Alexander Korolev, Deputy Director of the Central Research Institute of Higher School of Economics, told Izvestia. First of all, the country intends to become a kind of hub for foreign IT companies - Hanoi attracts them with various tax benefits and a developed transport system.

— Vietnam has already become one of the main major centers in the region for outsourcing and global electronics manufacturers, including semiconductors. Unlike China, Singapore and many other countries, there is more stable and cheaper electricity for production," the political scientist said.

A large number of enterprises will require a multiple increase in electricity in the future. According to the adopted plan, Vietnam intends to increase its energy capacity to 183-236 GW by 2030, compared with more than 80 GW at the end of 2023.

Nuclear priority: Russia and Vietnam are closer to an agreement on the construction of a nuclear power plant

Why is Hanoi interested in its appearance again after the project was frozen in 2016 and how are relations with Moscow developing?

The role of BRICS in Vietnam's strategy

In Southeast Asia, Vietnam's economy is roughly in the middle of the ranking in terms of volume, but it is significantly ahead of many countries in the region in terms of economic growth. By the end of 2024, GDP increased by more than 7%, which makes the republic one of the fastest growing economies in the world. Against this background, Hanoi wants to attract as much foreign investment as possible.

Economic interests have determined the multi-vector policy that the Vietnamese leadership has chosen in the international arena. Therefore, the republic is interested in good relations with both the United States and BRICS, which includes Russia and China, says Alexander Korolev.

Today, Hanoi, while still in the status of a partner, actively supports the work of the association, Dang Minh Khoi told Izvestia.

"We always closely monitor the development of BRICS," the ambassador said. — Vietnam always supports the work of international organizations that work in accordance with international law and promote cooperation between countries. As your Minister [of Foreign Affairs] Mr. Lavrov said, the goal of BRICS is to develop cooperation between countries in the world, and not to confront any country. Thanks to Russia's contribution, BRICS will continue to develop.

In October 2024, Vietnamese Prime Minister Pham Minh Tinh, leading a government delegation, took part in the BRICS summit in Kazan. During the visit, he called on Russia to support bilateral energy and oil and gas cooperation, help Hanoi train personnel in these areas, and facilitate the work of Vietnamese and Russian enterprises in each other's territories.

Vietnam's participation and interest in the BRICS+ format allows it to attract investments from various parties, Alexander Korolev notes. In such an expanded form, the association cannot be called anti-Western, which is important for the republic, because it has strong economic ties with the United States. The United States is the largest market for Vietnamese exports. The republic's supplies to the United States are estimated at $136.6 billion.

The relationship has even been tested by Donald Trump's protectionist policies and tariffs. In October 2025, the countries agreed that the United States would maintain duties on Vietnamese goods at 20%, and Vietnam would facilitate access to its market for all American industrial and agricultural goods. At the same time, Russia remains the republic's main partner in the energy sector.

In the future, Hanoi will also be interested in Russian small modular reactors and floating nuclear power plants, Maria Shcherbenko believes.

"Russia is a kind of innovator in this regard, and it will be interesting for Vietnam, since small modular nuclear reactors will allow it to provide energy to remote coastal and island areas," the expert explained.

Rosatom expects to officially enter the international market and start operating floating nuclear power plants by 2030. Thus, Moscow and Hanoi still have promising prospects in the nuclear industry.