On the National Assembly sitting in Hanoi on 21 October 2024,
the Minister of the Ministry on Industry and Trade (MOIT) –
Mr. Nguyen Hong Dien – said that Vietnam would amend its
National Power Development Plan VIII (PDP8) to include options for
nuclear energy and hydrogen.
According to Mr. Dien, the amendment of PDP8 is necessary since
relevant targets (i.e. offshore wind and LNG) are at risk of not
being able to catch up with the plan under the current PDP8 due to
the lack of legal framework and pricing obstacles. The goal of the
amendment of PDP8, according to Mr. Dien, is to "fully tap the
country's energy potentials and stay proactive in energy
supplies." Mr. Dien's speech is in line with the
MOIT's proposal to amend the PDP8 in early September whereby
the MOIT opined that the supply of electricity in 2025 – 2030
period would be extremely difficult with the potential risk of
eletricity shortage during the dry season. Further, according to
the MOIT, the approved power sources under the PDP8 are at risk of
not meeting the planned progress that can lead to power shortage in
the future. It is reported that, under a document of a competent
authority earlier this year, small and modern nuclear reactors have
been discussed with a number of countries including South Korea,
Canada and Russia.
We will keep you posted with most updated news on this matter.
Disclaimer: This Alert has been prepared and published for informational purposes only and is not offered, nor should be construed, as legal advice. For more information, please see the firm's full disclaimer.
