Hanoi looks to revive plans for nuclear power


Growing needs: Electricity pylons on the outskirts of Hanoi. Vietnam says it will study international experience with nuclear energy before taking any concrete steps. — AFP

HANOI: The development of nuclear power plays an important role in achieving energy security and achieving net-zero, but thorough study is needed to evaluate feasibility and ensure absolute safety, Deputy Industry and Trade Minister Nguyen Sinh Nhat Tan says.

Speaking at the ministry’s quarterly press conference last Wednesday, Tan was responding to questions related to a proposal of the draft amendment to the Law on Electricity about the government’s monopoly in developing nuclear power projects, which signals that Vietnam is planning to resume the policy of developing nuclear power.

Vietnam introduced a policy to develop nuclear power in 2009, with a project in Ninh Thuan Province, but the National Assembly on Nov 22, 2016 decided to halt the project due to a number of problems related to human resources and financial difficulties.

Under the Eighth National Power Development Plan (PDP8), which prioritises clean energy, the Industry and Trade Ministry is resuming the study into the development of nuclear power in Vietnam and will report to the government whether the country should develop nuclear power or not, Tan said.

He added that the ministry is studying international experiences in developing nuclear power.

In developed countries, along with the development of renewable energy, base-load power sources, including nuclear power, play an important role, Tan said, adding that many countries are increasing the output and scale of nuclear power by two or three times.

For example, in Japan and France, nuclear power accounts for around 20% to 25% of their electricity output.

With regards to safety concerns, Tan said across the globe, nuclear power is being developed at advanced stages with practical application and ensuring maximum safety while bringing risk levels to zero.

The ministry’s ongoing study had found several technologies which could be appropriate to Vietnam, he said.

If nuclear power is developed, Vietnam would select new technology that has already been applied in practice to ensure absolute safety and guarantee no risk, he stressed.

Tan did not specify any timescale in resuming nuclear power in Vietnam, saying that studies are ongoing before next the steps can be carried out.

Bui Quoc Hung, deputy director of the ministry’s Department of Electricity and Renewable Energy Authority, said that the development of nuclear power must take into account economic, social and scientific factors.

The government had recently asked the Industry and Trade Ministry to study the possibility for the development of nuclear power in Vietnam, as the world and the country’s conditions are changing, especially with regards to resources, together with the demand for reducing emissions.

The development of nuclear power would be necessary to ensure energy security and achieve net-zero, he stressed.

How nuclear power will be developed will be studied carefully and evaluated thoroughly to propose amendments to the PDP8, he said.

With regard to the operation of Chinese eCommerce platform Temu in Vietnam, Tan said that the Industry and Trade Ministry is evaluating the glut of cheap products into Vietnam through eCommerce channels to raise appropriate management measures.

He stressed that all eCommerce platforms must register to operate in the country.

The ministry has asked the Department of eCommerce and Digital Economy to evaluate the impacts of Temu’s operations in Vietnam. Indonesia had taken a bold move to block Temu, which offers consumer goods shipped directly from producers in China – to protect local businesses.

“I am shocked that the prices of products on Temu are so low. More study and evaluation are needed before any conclusions can be given out,” Tan said, adding that the ministry will soon provide measures to control the situation.

The ministry will also enhance monitoring to prevent trade fraud and the selling of counterfeit and smuggled goods, he added.

The ministry is also studying the development of technical standards to protect local production and improve competitiveness for Vietnam’s products, Tan said. — Viet Nam News/ANN

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

   

Next In Business News

Global economy chiefs fret over a Trump return as US election draws closer
Fresh stimulus policies eyed to boost economy
OCBC Malaysia adopts 'double green' as investment banking gold standard
Mah Sing, Bridge Data Centres sign second joint venture to boost Southville City DC hub's power capacity to 300MW
Anwar calls for top-level standards in logistics infrastructure and workforce
TNB, Maybank weigh on FBM KLCI at midday
China central bank activates open market outright reverse repo operations facility
KKR-backed Malaysian group OMS signs contract for cable-laying vessels with Dutch firm
AirAsia carries over 45 million passengers year-to-date
Zurich Malaysia names Pauline Teoh CEO of Zurich Life Insurance Malaysia

Others Also Read