Advancing Vietnam's Energy Future: Ninh Thuận Nuclear Projects Investment Progress Update

Deputy Prime Minister Chairs Meeting on Ninh Thuan Nuclear Power Project Progress

On the morning of July 16, 2026, at the Government Headquarters, Member of the Politburo, Deputy Prime Minister Pham Gia Tuc chaired a working session with the Ministry of Finance and related ministries, the Vietnam Electricity Group (EVN), and the Vietnam National Oil and Gas Group (Petrovietnam) regarding the implementation of procedures for adjusting the investment policy for the Ninh Thuan Nuclear Power Project and preparations for the investment of the Ninh Thuan 1 Nuclear Power Project.

Background and Strategic Importance of the Project

The Ninh Thuan Nuclear Power Project is considered one of the nation's key energy initiatives, holding strategic significance in ensuring energy security, diversifying the electricity structure, and reducing greenhouse gas emissions. The project comprises two nuclear power plants, Ninh Thuan 1 and Ninh Thuan 2, with a total combined capacity of 4,000 MW.

However, following the Fukushima nuclear accident in Japan in 2011, Vietnam suspended the project to reassess safety issues. It wasn't until 2023 that the government decided to resume the project with newer technologies and stricter monitoring procedures.

Key Discussion Points at the Meeting

At the meeting, Deputy Prime Minister Pham Gia Tuc received reports on the project's implementation progress and directed ministries and sectors to focus on completing investment procedures.

The meeting specifically addressed two main issues:

• Evaluating the implementation status of procedures for adjusting the investment policy of the Ninh Thuan Nuclear Power Project.
• Discussing and agreeing on measures to accelerate investment preparation for the Ninh Thuan 1 Nuclear Power Project.

Current Project Progress

According to reports presented at the meeting, procedures related to adjusting the investment policy for the Ninh Thuan Nuclear Power Project have been substantially completed. Specifically:

Deputy Prime Minister's Directives

Deputy Prime Minister Pham Gia Tuc emphasized: "The Ninh Thuan Nuclear Power Project is of significant importance to Vietnam's sustainable energy development. All ministries and sectors need to concentrate their efforts to complete investment procedures within 2026."

The Deputy Prime Minister requested:

• The Ministry of Finance to take the lead, coordinating with related ministries to finalize financial mechanisms for the project.
• EVN and Petrovietnam to accelerate investment preparation, particularly in technology and supplier selection.
• The Ministry of Science and Technology to enhance nuclear safety assessments according to international standards.
• The Ninh Thuan Provincial People's Committee to complete site clearance work promptly.

Challenges and Solutions

Despite significant progress, the project still faces numerous challenges:

• Large investment capital (estimated at 40-50 billion USD for both projects)
• Extended implementation timeline (expected 10-12 years per plant)
• High technology requirements and strict safety standards
• Lack of highly qualified workforce in the nuclear field

To address these challenges, the government has proposed comprehensive solutions:

• Expanding international cooperation to access advanced technologies
• Establishing specialized workforce training programs
• Piloting the development of supporting nuclear industries
• Diversifying funding sources (state budget, ODA, private investment)

Long-term Vision

The Ninh Thuan Nuclear Power Project not only meets the nation's growing energy demands but also contributes to Vietnam's COP26 commitment to reduce greenhouse gas emissions. According to plans, by 2050, nuclear power is expected to account for 10-15% of the national power system's total capacity.

Additionally, the project will serve as a catalyst for economic and social development in Ninh Thuan province and the South Central region, creating thousands of direct jobs and tens of thousands of indirect employment opportunities.

Conclusion

The meeting chaired by Deputy Prime Minister Pham Gia Tuc marked a significant step in restarting the Ninh Thuan Nuclear Power Project. With decisive leadership and comprehensive solutions, the project is expected to be implemented soon, contributing to the sustainable development of Vietnam's energy sector.

In the coming period, ministries and sectors will continue to coordinate closely to complete investment procedures, bringing the project to implementation as scheduled.

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