The Vietnamese government has set deadlines for key steps in reviving the Ninh Thuan nuclear power plant project, according to Resolution 249. The Ministry of Industry and Trade, along with relevant parties, must negotiate and sign international agreements with partners for the construction of both Ninh Thuan 1 and 2. The deadline for Ninh Thuan 1 is September, while Ninh Thuan 2 is December.
The Ministry of Finance is responsible for negotiating, finalizing procedures, and signing international credit agreements for both projects. Their target completion date for Ninh Thuan 1 is September, and March 2026 for Ninh Thuan 2.
Vietnam aims to complete the Ninh Thuan nuclear power plant project within 5 years. Ninh Thuan 1, located in Phuoc Dinh commune, Thuan Nam district, will be operated by EVN. Ninh Thuan 2, situated in Vinh Hai commune, Ninh Hai district, will be operated by PVN.
Negotiating credit agreements is crucial for the project's success. Securing investment is a significant challenge, given the estimated cost of over tens of billions of USD for a 2,000 MW nuclear power plant. This cost exceeds the financial capacity of domestic businesses and banks. Cost overruns, a common issue in international projects, are also a concern.
Besides credit negotiations, EVN and PVN must submit revised investment proposals for approval during the National Assembly session in October-November 2025 for Ninh Thuan 1 and by May 2026 for Ninh Thuan 2. Following this, the State Appraisal Council (led by the Ministry of Finance) will appraise the projects and submit them to the Prime Minister for approval in 2026, including the chosen location.
The Ministry of Science and Technology will collaborate with the International Atomic Energy Agency (IAEA) to complete an infrastructure assessment report in 2025. The Ministry is also tasked with developing and issuing a comprehensive plan for nuclear power infrastructure development and researching participation in relevant international treaties by 2026.
Additionally, the Ministry of Science and Technology will review and amend decrees and circulars related to the Atomic Energy Law concerning nuclear power plants this year. The Khanh Hoa Provincial People's Committee will expedite resettlement and site clearance. The Ministry of Education and Training will develop and submit a nuclear power workforce training plan to the Prime Minister for approval and immediate implementation.
EVN, PVN, and related agencies are responsible for managing funds and resources efficiently, preventing corruption and waste, and ensuring national defense, security, radiation safety, and environmental protection throughout the project.
An interdisciplinary task force comprising representatives from the Ministries of Defense, Public Security, Finance, Government Inspectorate, State Audit, and other agencies will be established in 2026 to oversee anti-corruption and waste prevention efforts during project implementation.
Phuong Dung
