Brian Jeffrey
During a press conference on December 7, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan revealed that the investment for the Ninh Thuan nuclear power project will reach billions of dollars, depending on various factors, with initial estimates indicating a multi-billion-dollar range.
Deputy Minister Tan mentioned that the National Assembly recently approved a resolution to proceed with the Ninh Thuan nuclear project during its eighth session. The Ministry of Industry and Trade has thoroughly reviewed the plans and submitted necessary reports to government bodies.
The government has assigned roles to different ministries, including the Ministry of Industry and Trade, to finalize the legal framework for the project. The National Assembly has also modified the Electricity Law to include provisions for nuclear energy development.
Furthermore, the government has suggested changes to the Atomic Energy Law, which will be presented to the National Assembly to address issues related to safety, technology, and the future of nuclear energy.
“This establishes a legal framework for nuclear power growth,” stated Deputy Minister Tan.
Simultaneously, the Ministry of Industry and Trade is collaborating with other institutions to create coherent legal structures for investment, safety, construction, and safeguarding the environment.
The Ministry has recommended that the government form a Steering Committee for the nuclear power plant project, led by the Prime Minister, with the Deputy Prime Minister as the vice-chair. A taskforce, headed by the Minister of Industry and Trade along with relevant representatives and nuclear energy experts, will also be established.
Deputy Minister Tan indicated that the Ministry will shortly propose necessary changes to Power Development Plan 8, which provides a legal foundation for the nuclear energy policies set forth by the National Assembly and the central government.
Additionally, the Ministry will advise on selecting a project developer who will manage research, propose plans, and oversee the construction and operation of the nuclear power station.
At the local level, the Ministry has called on Ninh Thuan province’s leaders to prepare suitable land and gain public backing to ensure smooth progress for the project.
Deputy Minister Tan pointed out that there is strong support for the project, which is a positive development. Although it was initially proposed several years ago, progress was hindered by external factors, the project now benefits from earlier planning and readiness.
There are, however, challenges still to be faced, particularly in choosing technologies that ensure safety and security while mitigating risks.
“We will advance carefully, in a step-by-step manner. Today’s modern technologies are very advanced and provide safety,” he noted.
The projected investment for the nuclear power initiative will vary based on scale and technology needs, but early estimates suggest a multi-billion-dollar amount.
This project aims to deliver considerable benefits, especially as a clean and dependable energy source. It aligns with Vietnam’s objectives of fostering green and renewable energy.
By developing nuclear power alongside other renewable energy sources, the initiative will enhance energy security and provide sustainable energy solutions that are both foundational and environmentally friendly.
Moreover, the project is expected to stimulate economic and social development, benefiting not just Ninh Thuan province and its neighboring areas but the entire country, with plans to export energy as well.
It will also promote advancements in high-tech industries, especially in the field of atomic energy science while supporting the growth of related sectors.
