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Vietnam is at a turning point in its energy development, considering revitalize its nuclear initiative after putting ambitious projects on hold in 2016. Faced with a economic growth rapid growth and a sharply increasing energy demand, the Vietnamese government has recently expressed its willingness to re-explore nuclear energy as a viable solution to ensure a stable and sustainable supply. This approach is part of the energy infrastructure necessary to support a socio-economic development in the long term, while respecting environmental commitments aimed at carbon neutrality by 2050.
Amid rapid economic growth and growing energy needs, Vietnam has announced plans to restart its program nuclear. The government, under the leadership of Prime Minister Pham Minh Chinh, seeks to respond to the energy challenges posed by the country’s industrialization, while committing to environmental sustainability objectives. The move comes after two nuclear power plant projects were abandoned in 2016, raising questions about the economic, environmental and geopolitical implications of the decision.
History of nuclear projects in Vietnam
In 2016, Vietnam halted two nuclear power plant projects in the central province of Ninh Thuan, projects that were deemed too costly, with initial estimates doubling to $18 billion. The government then cited economic and environmental reasons to justify this suspension. These facilities were to have a combined capacity of 4,000 megawatts and were developed in collaboration with the Russian state corporation Rosatom and the Japanese consortium JINED.
A growing need for energy
Prime Minister Pham Minh Chinh stressed that to achieve a scenario of double-digit economic growth, Vietnam must anticipate an increase in energy needs of around 150%. The country’s rapid population growth and industrial development are amplifying energy demand. Currently, Vietnam relies mainly on coal and hydropower to fuel its development. This critical situation worries the government, which is looking for alternative solutions to guarantee a reliable and sustainable energy supply.
Commitment to carbon neutrality
Despite its dependence on fossil fuels, Vietnam is committed to achieving net carbon neutrality by 2050. To achieve this, the country is collaborating with international initiatives, such as the Just Energy Transition Partnership, aimed at accelerating the adoption of renewable energy and other clean energy sources. The relaunch of the nuclear program is part of this strategy, offering a means of diversifying energy sources while respecting environmental commitments.
Challenges to overcome
Reviving Vietnam’s nuclear program will not be without challenges. In addition to the financial and environmental concerns previously encountered, the country will have to face questions of security, waste management and management of qualified human resources. Safety assessment of the new facilities is expected to begin in early 2025, with plans to begin construction of a reactor between 2027 and 2028. These deadlines highlight the importance of careful planning and effective international cooperation.
Economic and geopolitical outlook
Revitalizing the nuclear program could also have implications geopolitical significant for Vietnam, as the country seeks to secure its relations with nations with nuclear expertise, while balancing its interactions with global powers, notably China and the United States. International investments in the nuclear energy sector can strengthen Vietnam’s energy independence and strengthen its position in the international arena.
For more detailed information on this topic, you can consult the following articles: VietnamMore, Le Figaro, AL24 News, Agenzia Nova, International Network.
Vietnam Nuclear Initiative FAQ
What is Vietnam planning regarding its nuclear program? Vietnam has announced its intention to relaunch its nuclear program to meet growing energy demand, after abandoning two projects deemed too costly in 2016.
Why did Vietnam abandon its previous nuclear projects? Plans for nuclear power plants had been abandoned due to high financial costs and environmental concerns, with cost estimates doubling to $18 billion.
What is the Vietnamese government’s objective in relaunching this program? The objective is to guarantee an increase in the energy supply necessary for rapid and sustainable socio-economic development in the long term.
What are the implications of this recovery for the environment? Despite Vietnam’s commitment to carbon neutrality by 2050, the revival of nuclear power could aim to reduce dependence on fossil fuels and integrate energies considered clean.
What is the current status of Vietnamese nuclear projects? Currently, nuclear projects are in the reassessment phase, with safety analyzes scheduled for early 2025, followed by possible construction planned for 2027-2028.