On Tuesday (January 14) Russia and Viet Nam signed a significant nuclear energy agreement during Russian Prime Minister Mikhail Mishustin's official visit to Viet Nam.
During the visit, the two prime ministers signed a joint communiqué in Hanoi outlining a comprehensive plan to deepen bilateral cooperation through 2030. Additionally, a memorandum of understanding was signed between Rosatom, Russia's state-owned nuclear energy company, and EVN, Viet Nam's state-owned electricity company.
This agreement is part of Russia's efforts to strengthen ties with Viet Nam, which it regards as a strategic partner in Southeast Asia. Before the signing, Mishustin emphasized the importance of enhancing trade and economic cooperation between the two countries.
The visit also marked Mishustin's first trip to Viet Nam and the first visit by a foreign leader to the country this year.
New Era for Viet Nam’s Nuclear Energy
The Russian government revealed that a memorandum of understanding (MoU) between Russia’s state-owned nuclear energy company, Rosatom, and Viet Nam Electricity (EVN) is one of seven cooperation documents signed by the two countries.
The remaining documents are part of a broader agreement, which also includes collaboration in the fields of digital and electronic technology.
Although the details of the MoU have not been disclosed, Viet Nam’s Ministry of Science and Technology noted that Rosatom Director Alexei Likhachev has expressed strong interest in partnering on the development of a nuclear power project in Ninh Thuan.
The project is planned to include the construction of two power plants in Ninh Thuan Province with a total capacity of 4,000 megawatts. Initially, this project was set to be implemented with the support of Rosatom and the Japanese consortium JINED, but it was canceled in 2016.
This renewed cooperation reflects a fresh attempt to revive the potential of nuclear energy projects in Viet Nam. Nuclear energy is expected to help Viet Nam meet its domestic energy demands while supporting its greenhouse gas emission reduction targets by 2050.
Russia Eyes Deepening Alliances
Russian Prime Minister Mikhail Mishustin's visit marked a significant step in Russia's efforts to strengthen ties with Asian nations amidst international isolation following Russia's 2022 invasion of Ukraine. As part of the visit, Russia also agreed to transfer a scientific research vessel to support Viet Nam’s marine research initiatives.
Although bilateral trade between the two countries reached only $3.6 billion in 2023, their relationship dates back to the Cold War era. Soviet influence remains visible in various Viet Namese cities through Soviet-style architecture.
Since the 2000s, Russia has also been a key arms supplier to Viet Nam, although its contribution has declined as Viet Nam seeks to diversify its sources of military equipment.
