Home > Blog >

Vietnam, United States Sign Nuclear Energy Deal - Vietnam Briefing News

Apr. 2 –  Vietnam and the United States inked a nuclear agreement on Tuesday that could provide more business opportunities for U.S. firms looking to enter the Asian energy market.

The agreement is a prelude to further negotiations on a more specific deal that will allow American firms to built nuclear power plants in Vietnam. The Southeast Asian country has been enjoying steady economic growth in the past years but energy capacity has not been able to meet increased production and blackouts are a common occurrence. The Vietnamese government has even resorted to hiking prices during peak hours to discourage use. Vietnam’s power needs are expected to increase by 16 percent annually until 2015 based on government estimates.

In addition to the U.S. deal, Vietnam has also signed energy cooperation deals with China, Russia, France, India, South Korea and Argentina. Two new nuclear power plants are also being built in Ninh Thuan in Southeast Vietnam.