Vietnam’s government convened a high-level meeting on July 16, 2026, to accelerate the legal and investment framework for its revived nuclear power program, with the State Appraisal Council recommending that the Ninh Thuan Nuclear Power Project be divided into three separate components. The move is intended to clarify accountability between Vietnam Electricity Group and PetroVietnam and speed up land clearance and financing as the country works toward a 2030 completion target for its first nuclear plants.
Key Facts At A Glance
- Meeting held July 16, 2026, chaired by Standing Deputy Prime Minister Pham Gia Tuc
- Attendees included the Ministry of Finance, Vietnam Electricity Group (EVN), and PetroVietnam
- State Appraisal Council has completed appraisal of the investment policy adjustment for the project
- Recommended split: Ninh Thuan 1, Ninh Thuan 2, and a separate Compensation, Support, and Resettlement project
- EVN is responsible for Ninh Thuan 1 documentation; PetroVietnam for Ninh Thuan 2
- Original project footprint covers 1,642 hectares, first approved by the National Assembly in 2009
- Ninh Thuan 1 will use two Russian-designed VVER-1200 reactors under a March 2026 intergovernmental agreement with Russia
- Government target is completion of both plants by the end of 2030
Vietnam’s push to revive its long-dormant nuclear program advanced further this month, as senior officials moved to restructure how the country’s two flagship reactor projects are managed. On the morning of July 16, Standing Deputy Prime Minister Pham Gia Tuc chaired a working session with the Ministry of Finance and other ministries, agencies, and state enterprises to review procedures for adjusting the investment policy of the Ninh Thuan Nuclear Power Project.
According to the Ministry of Finance’s report to the meeting, the State Appraisal Council has completed its appraisal of the proposed investment policy adjustment under Decision No. 496/QD-TTg, issued by the Prime Minister on March 27, 2026. The council recommended that the government seek approval from the competent authority to split the overall project into three independent components: the Ninh Thuan 1 Nuclear Power Project, the Ninh Thuan 2 Nuclear Power Project, and a separate Compensation, Support, and Resettlement project covering the surrounding 1,642-hectare site.
Under the proposed structure, EVN would take responsibility for completing documentation on Ninh Thuan 1, while PetroVietnam, formally the Vietnam National Energy and Industry Group, would handle Ninh Thuan 2. Ministry and agency leaders at the meeting agreed that both projects carry special importance for national energy security, long-term economic development, macroeconomic stability, and national defense, and said implementation would require dedicated mechanisms and policies to speed appraisal and investment preparation.
Legal analysts tracking the project characterized the meeting as a substantive implementation milestone rather than a final investment decision, noting that unresolved questions remain around project bankability, regulatory stability, currency convertibility, nuclear liability, and decommissioning obligations that will need to be addressed before international capital and technical partners fully commit.
The renewed push builds on a series of steps Vietnam has taken since reviving the Ninh Thuan projects, which were originally approved in principle in 2009 and then shelved in 2016 over cost and safety concerns. The National Assembly restored the program in late 2025, approved a revised Power Development Plan 8 incorporating nuclear power, and passed a new Atomic Energy Law effective January 2026 that designates nuclear power a national strategic priority. In March 2026, Vietnam signed an intergovernmental agreement with Russia for Ninh Thuan 1, which will use two VVER-1200 reactors based on the Leningrad II design.