Vietnam and Russia have signed a landmark agreement to build a nuclear power plant in Vietnam, reviving the Southeast Asian nation’s nuclear ambitions to enhance energy security and reduce greenhouse gas emissions. The deal, for the Ninh Thuan 1 Nuclear Power Plant, was announced following Vietnamese Prime Minister Pham Minh Chính’s visit to Moscow, where he met Russian Prime Minister Mikhail Mishustin. Vietnam’s official government newspaper described the project as a “symbolic project” reflecting the long-standing friendship between the two nations.

The Ninh Thuan 1 plant will feature two Russian-designed reactors with a combined capacity of 2,400 megawatts, modeled on an existing plant in Russia. The project aligns with Vietnam’s goal of becoming a wealthy, high-growth economy by 2050, positioning itself as Asia’s next “tiger economy.” The agreement marks a significant step in reviving nuclear energy in Vietnam after two previous projects were shelved in 2016 due to rising costs and safety concerns.

Concerns over energy security have intensified amid global fuel shortages triggered by geopolitical tensions in the Middle East, which have pushed up the cost of imported fossil fuels. The nuclear project offers Vietnam a long-term, reliable, and cleaner source of electricity to meet the growing demands of its rapidly developing economy.

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Across Southeast Asia, several fast-growing nations are turning to nuclear energy for stable power and lower carbon emissions. Modern reactors are designed to be safer, more compact, and cost-effective compared with traditional fossil fuel plants. Vietnamese officials have highlighted the plant’s potential to support both energy security and climate commitments.

In addition to the nuclear deal, discussions during the Moscow visit included expanding cooperation in oil and gas, technology, and infrastructure projects. While Vietnam and Russia have maintained diplomatic ties since the 1950s, trade between the two nations remains relatively modest, rising from USD 3.63 billion in 2023 to USD 4.77 billion in 2025, significantly lower than Vietnam’s trade with China or the United States.

The Ninh Thuan 1 project represents a strategic pivot in Vietnam’s energy policy, combining economic growth ambitions with environmental considerations and deeper engagement with a key historical partner, Russia. The project is expected to strengthen bilateral ties while helping Vietnam secure a more resilient energy future.

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