Vietnam proposes allowing private investment in small modular nuclear reactors

HANOI, Oct. 20 (Xinhua) -- The Vietnamese government has proposed allowing private companies to invest in, build and operate nuclear power plants using small modular reactors (SMRs), under draft amendments to the Law on Electricity submitted to the National Assembly (NA) on Tuesday, local media VnExpress reported.

This photo taken on June 27, 2023 shows a view of Hoan Kiem Lake at night in Hanoi, Vietnam. (File photo: Xinhua)

Under the proposal, the state would retain its monopoly over investment in, construction and operation of nuclear power plants, except those using SMR technology, opening the sector to private enterprises and state-owned companies.

Minister of Industry and Trade Le Manh Hung said the amendments aim to strengthen national energy security, remove bottlenecks in electricity planning and investment, and improve transparency in electricity pricing and market operations.

SMRs are advanced nuclear reactors with a power capacity of up to 300 megawatts per unit, about one-third that of conventional nuclear power reactors. They can be prefabricated and transported to installation sites to reduce construction costs and time.

Regarding the proposal, the NA Committee on Science, Technology and Environment called for clearer conditions governing private-sector participation and stricter safeguards for nuclear safety and security.

The NA is scheduled to discuss the draft amendments on Nov. 3 and vote on their adoption on Nov. 20.