Vietnam advances $22B nuclear push

Vietnam’s revived nuclear programme is moving from policy reset to site work, vendor positioning and formal international agreements. The clearest signs are on the ground in Khánh Hòa Province, where resettlement and site-clearance work has begun for Ninh Thuận 1, and in Hanoi’s external diplomacy, where Vietnam has signed a March 2026 intergovernmental agreement with Russia tied to the first plant. Nuclear Business Platform, an industry advisory and events group, has described the programme as a $22 billion effort centered on the restart of Ninh Thuận 1 and 2. The group says the two projects together are targeting 4,000-6,400 megawatts and argues Vietnam could become the first ASEAN country to operate a nuclear power plant if the current timetable holds. (vietnamnews.vn) That does not make the programme complete or irreversible. Nuclear Business Platform said Vietnam still has to rebuild regulatory capacity, workforce depth and procurement structures after the programme’s 2016 suspension, even as the government pushes toward a 2030-2035 operating window for the first units. ### What is actually happening at Ninh Thuận right now? (nuclearbusiness-platform.com) Khánh Hòa authorities have already launched resettlement and site-clearance work for Ninh Thuận 1, according to Vietnam News. Deputy Prime Minister Bùi Thanh Sơn attended the launch ceremony and called the project strategically important for energy security and the country’s clean-energy transition. (nuclearbusiness-platform.com) A May 2 Vietnam News report said Khánh Hòa Province was aiming to complete compensation and site clearance for both Ninh Thuận 1 and 2 in the second quarter of 2026, in line with a prime ministerial directive. That report also described a “tight five-year deadline” for the two projects. ### Which plant is furthest along? Russia has the clearest formal position in Ninh Thuận 1. (vietnamnews.vn) Vietnam’s Ministry of Industry and Trade said Vietnam and Russia signed an intergovernmental agreement in March 2026 for construction of Ninh Thuận 1, a two-unit project with expected capacity of about 2,400 MW using Rosatom’s VVER-1200 technology. (vietnamnews.vn) Nuclear Business Platform said that agreement gave the project its legal foundation and made construction preparation more visible to suppliers and export-credit participants. The group’s reporting also says Ninh Thuận 2 remains the more open competitive space for reactor vendors. ### Where does the 4,000-6,400 MW figure come from? (moit.gov.vn) Vietnam’s official baseline for the original Ninh Thuận project was 4,000 MW across two plants, according to the government portal Bao Chinh Phu. That February 2025 report said the project involved two nuclear power plants in Ninh Thuận with combined capacity of 4,000 MW. (nuclearbusiness-platform.com) Nuclear Business Platform uses a wider 4,000-6,400 MW range in its current market material. That appears to reflect the original two-plant structure plus possible reactor-sizing or procurement-path flexibility as Vietnam reworks the programme; that range is the industry platform’s characterization, not a new official Vietnamese capacity decree in the sources reviewed. (en.baochinhphu.vn) ### Why are people saying Vietnam could be first in ASEAN? No ASEAN country operates a commercial nuclear power plant today in the sources reviewed, and Nuclear Business Platform says Vietnam’s combination of signed agreements, active site work and defined project structure puts it ahead of regional peers. Its broader Southeast Asia market note says the region now has a $208 billion nuclear pipeline spanning Vietnam, the Philippines, Indonesia, Malaysia and Thailand. (nuclearbusiness-platform.com) That claim comes from an industry platform rather than an official ASEAN body. Still, the source base does show Vietnam moving on several fronts at once: land clearance, special project mechanisms, and a signed state-to-state deal for Ninh Thuận 1. ### What should readers watch next? Hanoi is due to host the 11th Asia Nuclear Business Platform from November 24 to 26, 2026, with the Vietnam Atomic Energy Institute listed as host. (nuclearbusiness-platform.com) The event page says government officials and supply-chain companies from across Southeast Asia are expected to attend, with a pre-conference workshop on November 24 and conference sessions on November 25-26. (vietnamnews.vn) The next hard markers for Vietnam itself are more specific than conference rhetoric: additional procurement detail for Ninh Thuận 2, updated compensation and relocation milestones in Khánh Hòa, and any official revision that confirms whether the national target remains 4,000 MW or expands toward the 6,400 MW range cited by industry participants. (vietnamnews.vn) (nuclearbusiness-platform.com)