- Vietnam and Russia agreed to fast-track negotiations and sign agreements to build nuclear power plants in Vietnam.
- Russia will supply crude oil and LNG to Vietnam, enabling the expansion of their energy firms in each other’s markets.
Vietnam and Russia have agreed to accelerate negotiations and promptly sign agreements to construct nuclear power plants in Vietnam. In a joint statement issued on Sunday, May 11. Both governments pledged to deepen energy cooperation during Vietnamese leader To Lam’s official visit to Moscow.
The two countries confirmed that the planned nuclear power plants will incorporate advanced technology and comply fully with nuclear and radiation safety regulations. They stressed that the initiative aims to support Vietnam’s long-term socio-economic development.
Vietnam launched its nuclear energy programme over a decade ago but suspended it in 2016 due to concerns over financial feasibility and safety. The government has revived plans to diversify the national power mix amid rising energy demands driven by rapid industrial growth and urbanisation.
Officials have previously said they expect the first nuclear power plants with a combined capacity of up to 6.4GW to come online between 2030 and 2035. The government announced earlier this year that it would discuss nuclear power projects with several international partners, including Russia, Japan, South Korea, France, and the United States.
In addition to nuclear cooperation, Vietnam and Russia agreed to expand collaboration in the oil and gas sector. Under the joint statement, Russia will supply Vietnam with crude oil and liquefied natural gas (LNG). The two sides also committed to facilitating the expansion of their respective energy companies within each other’s territories.
Vietnam currently imports energy to meet growing domestic demand, and the government has prioritised the development of clean and stable power sources. The renewed partnership with Russia aligns with this strategy, offering Vietnam a reliable source of energy technology and resources.
For Russia, the deal strengthens its presence in Southeast Asia and reinforces bilateral ties with a key regional partner as it seeks to deepen economic and strategic links beyond Europe.
The joint statement marks a significant step forward in both nations’ efforts to build a comprehensive strategic partnership, particularly in energy security and technological collaboration.