Small-scale nuclear power: Solution for ensuring national energy security

On the morning of May 11 in Hanoi, VnEconomy, in collaboration with Viet Nam Atomic Energy Institute (VINATOM), organized the International Conference titled: “Small-Scale Nuclear Power: A Strategic Solution for Viet Nam’s Energy Security.” 

The event was attended by high-level diplomatic delegations from the Embassy of the Russian Federation in Viet Nam and the Embassy of India in Viet Nam, along with leading nuclear experts and executives from major global nuclear companies from Russia, as well as online participants joining from Canada.

According to Dr. Nguyen Ngoc Hung, Head of the Energy Economics Division at the Institute of Energy (under Ministry of Industry and Trade), Viet Nam has maintained relatively high economic growth over the past 15 years despite continuous global uncertainties.

In the coming period, alongside energy transition requirements and the goal of achieving net-zero emissions, electricity demand in industry and transportation is expected to rise rapidly. This means power demand will continue to grow strongly to meet economic development needs.

The current challenge is not only ensuring a stable and continuous power supply, but also maintaining affordability for both citizens and businesses. Viet Nam’s dependence on imported energy has reached an alarming level, making the gradual reduction of import dependence a priority in the country’s national energy security strategy.

In addition, Viet Nam still lacks a sufficiently large strategic reserve system for petroleum and crude oil. Although the Government has made significant efforts to develop fuel storage infrastructure in recent years, reserve capacity remains limited. Dr. Nguyen Ngoc Hung noted that developing energy sources capable of long-term fuel storage, such as nuclear fuel, which can be stored for many years, could become an important solution to strengthen the resilience of both the energy system and the economy against global fluctuations.

Mr. Dao Quang Binh, General Director of VnEconomy, stated that Viet Nam is standing at a historic turning point in the global energy sector. According to reports from the International Energy Agency (IEA), the world is facing not only a climate crisis but also severe pressure from disruptions in traditional energy supply chains. The commitment to achieving Net Zero emissions by 2050 has officially become a “new rule of the game” shaping global trade and investment flows.

In this context, Viet Nam needs not only energy for economic growth, but also an energy source that is genuinely clean, stable, and self-reliant. Therefore, research into the deployment of Small Modular Reactors (SMRs) is now closely linked to the process of implementing new energy scenarios under the revised Power Development Plan VIII.