Vietnam partners with the US to develop nuclear power plants

According to Agence France-Presse (AFP), the agreement focuses on investment models for energy infrastructure, technology transfer and human resource training, citing a statement from the Vietnamese Ministry of Industry and Trade.

Hanoi and Washington are currently engaged in the second round of trade talks following US President Donald Trump’s threat to impose a 46% tariff on Vietnamese goods as part of his global trade measures, the ministry stated.

Vietnam holds the third-largest trade surplus with the United States after China and Mexico and is keen to address the trade imbalance to avert the tariff threat.

Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien, said at a meeting with Westinghouse officials that cooperation in energy development would serve as "an important driving force contributing to balancing bilateral trade between Vietnam and the United States".

The ministry quoted Westinghouse corporate affairs executive vice president Margaret Cosentino, saying the company strongly supports Vietnam’s plan while emphasising the significance of long-term energy cooperation.

The Vietnamese delegation also took part in the second round of trade negotiations on Tuesday, during which both sides discussed a comprehensive approach to resolve key mutual concerns, the statement added.

Vietnam aims to revive its nuclear power plans to satisfy its rapidly growing energy demands and signed an agreement with Russia in January related to the Ninh Thuan nuclear power project.

This project, which involves two plants in central Ninh Thuan province with a combined capacity of 4,000 megawatts, was initially intended to be developed with assistance from Rosatom and the Japanese consortium JINED, before the plans were shelved in 2016.