US Congress considers civilian nuclear pact with Vietnam

(VOV) - The US Congress on May 8 began reviewing a civilian nuclear agreement with Vietnam that is expected to bring a considerable benefit to the US economy.

France’s AFP news agency reported President Barack Obama had sent to Congress the text of the agreement (agreement 123) which would allow the US to transfer reactors and know-how to Vietnam.

The US Nuclear Energy Institute has said the deal could result in US$10 to US$20 billion in new US exports to Vietnam and create more than 50,000 jobs in the US.

Early this year US President Barack Obama approved a civilian nuclear deal with Vietnam, paving the way for the US to sell its reactors to this Southeast Asian nation.

The agreement was initialled by US Secretary of State John Kerry and Vietnamese Foreign Minister Pham Binh Minh on the sidelines of an East Asia summit in Brunei in October 2013.

It was officially signed by Vietnam’s Minister of Science and Technology Nguyen Quan and US ambassador to Vietnam David Shear in Hanoi on May 6.

Experts say Vietnam’s nuclear power market ranks second in East Asia after China and it is expected to grow to US$50 billion in the next two decades.

Vietnam plans to build two nuclear power plants in Ninh Thuan province to meet the country’s growing demand for power.