Brian Jeffrey
The Ministry of Industry and Trade is tasked with conducting an in-depth study on the advancement of nuclear power in various countries.
This investigation aims to develop a plan for introducing nuclear energy into Vietnam’s power system in the coming years. The initiative stems from the Government Office’s directives, following essential insights from the Permanent Government’s recent meeting which tackled issues in the gas and offshore wind energy sectors.
This strategic initiative is supported by global economic projections indicating that Vietnam’s economy might grow by over 7% if there is a reduction in interest rates by the Federal Reserve.
In light of this, the Permanent Government has requested a swift evaluation of all energy sources in the Power Development Plan VIII. There is a strong recommendation to transition from coal to gas, focusing on enhancing domestic production to achieve an annual growth rate in power generation of 12-15%, while ensuring national energy independence.
A significant aspect of this initiative is the investigation into nuclear energy as a solution to enhance base load capacity and reduce environmental impacts.
The Ministry of Industry and Trade will present its research and suggestions regarding nuclear power development to the Politburo, ensuring proposed strategies are in line with national priorities and international best practices.
The ministry is also actively working to resolve legal challenges that hinder the execution of energy projects. Efforts are underway to finalize amendments to the Electricity Law to refine and include effective measures from prior laws and existing regulations.
The legal complexities, filled with many variables, have led to establishing core principles within the law, allowing the government to define details related to pricing and technical specifications.
Additionally, the Ministry of Industry and Trade has been instructed to examine legal obstacles within various legislative areas, such as the Investment Law, Bidding Law, and regulations pertaining to environmental and maritime resources, to create a favorable atmosphere for energy project development.
Earlier, the ministry circulated a draft report requesting feedback on the potential for integrating small modular reactors, including floating nuclear power plants, into Vietnam’s energy policy.
These reactors, generating about 300 MW each—approximately one-third of conventional nuclear reactor capacity—are recognized for their scalability and the global trend towards such developments.
While nuclear power is not currently included in the Power Development Plan VIII, the advantages and international inclination towards small modular nuclear technologies imply that Vietnam could reap significant benefits from their implementation, potentially establishing a model for future energy strategies in the region.
Tam An
