The Resolution, passed with 424 of 436 lawmakers voting in favour, highlights the Government’s aim to diversify the country’s energy mix while ensuring nuclear safety and compliance with relevant laws.

According to the approved document, the Government will issue investment mechanisms for small modular reactor (SMR) projects based on development needs and technology commercialisation stages.

SMRs are a type of advanced nuclear reactor with a capacity of up to around 300MWe per unit, roughly one-third of the output of traditional large-scale nuclear reactors. These reactors are built in modular form, allowing components to be manufactured in factories and transported to installation sites.

This modular approach is expected to significantly reduce both costs and construction time, shortening it to 24–36 months compared to 5–10 years or more for conventional large nuclear plants.

SMRs also offer flexible siting, as they can be deployed in areas unsuitable for large reactors and expanded gradually in line with increasing energy demand.

The resolution encourages private enterprises to engage in SMR development to supply electricity for industrial projects such as steel plants, petrochemical complexes and data centres. They may also engage in joint research, technology development and technology transfer.

For offshore wind projects, the Resolution allows developers to sell electricity directly to the national grid and receive investment approval without competitive land auctions or bidding, provided projects meet national security, environmental, and maritime requirements, are included in the approved power development plan, and are scheduled to operate between 2025 and 2030.

Provincial authorities will grant investment approvals with mandatory written consensus from relevant ministries in charge of defence, public security, foreign affairs, industry and trade, finance, construction, and agriculture and environment.

The Resolution also removes a previous requirement for offshore wind investors to have a minimum charter capital of VND10 trillion (around US$420 million), in order to attract a broader range of capable domestic and international investors. Direct power purchase mechanisms will be expanded to industrial parks, information technology zones, high-tech agricultural zones, urban areas, and free trade zones.

State authorities emphasised that ongoing projects will continue land clearance and compensation processes in parallel with any adjustments to planning or project approvals. Urgent national oil, gas, and coal projects will not require prior investment approval procedures.

According to Minister of Industry and Trade Nguyen Hong Dien, the previous capital requirement aimed to select financially capable developers, in line with a 2022 Politburo directive on awarding projects to reputable enterprises. The amendment is intended to maximise investor participation while maintaining project standards and compliance.

PM urges swift resolution of obstacles to nuclear power projects

VOV.VN - Prime Minister Pham Minh Chinh has requested relevant agencies to urgently resolve outstanding issues, particularly regarding mechanisms and policies, in order to expedite the implementation of the Ninh Thuan 1 and Ninh Thuan 2 nuclear power projects.