Vietnam and Russia in Agreements: A New Stage in Cooperation in the Nuclear Energy and Power Sector
Following a recent diplomatic meeting between Vietnam and the Russian Federation, an important agreement was reached regarding joint efforts in the construction of nuclear power plants, marking a new chapter in bilateral relations in the energy sector. This news emerged after Vietnamese leader To Lâm’s visit to Moscow, which encouraged increased cooperation between the two countries in strategically vital areas of electricity production. According to Reuters, a joint statement was issued after the meeting, expressing the parties' intention to promptly organize negotiations and sign specific agreements on the implementation of nuclear power plant construction projects in Vietnam. The statement emphasizes that the construction of new nuclear facilities will adhere strictly to international standards of nuclear and radiation safety, while also taking into account the country’s socio-economic characteristics. Based on publicly available information, Vietnam—long considering the revival of its nuclear energy program—has returned to actively planning projects that were frozen nearly a decade ago. This is a logical step within the broader framework of measures aimed at diversifying the country’s energy and economic policies, which are increasingly focused on boosting electricity generation to support rapid economic growth. The Vietnamese government previously announced plans to commission its first nuclear reactors, with a total capacity of up to 6.4 gigawatts, between 2030 and 2035. These plans involve not only domestic project implementation but also increasing cooperation with foreign partners, primarily Russia, Japan, South Korea, France, and the United States. This indicates Vietnam’s turn towards a multilateral and open approach in developing its nuclear sector. In addition to the nuclear energy program, bilateral agreements foresee intensified cooperation in the broader energy sector. In particular, the countries agreed to increase supplies of Russian oil and liquefied natural gas, which will play a crucial role in ensuring Vietnam’s energy security and strengthening collaboration in the energy industry. Moreover, both nations are focusing on deepening the presence of their energy companies in each other’s territories, aiming to foster long-term partnerships and technology exchange. Overall, the signing of this agreement opens new opportunities for developing Vietnam’s energy potential with Russian technologies, investments, and expertise in nuclear energy. It also demonstrates both countries’ strategic orientation toward strengthening cooperation in critical sectors that are vital for ensuring stability and economic growth in the future. It is expected that the implementation of these agreements will bring long-term benefits and facilitate the formation of closer partnership relations between Vietnam and Russia in the fields of energy and technology.