Korea Electric Power Corporation (Kepco) and Vietnam’s state-owned energy company, Petrovietnam (PVN), also signed an MOU to develop a workforce for the nuclear power industry in the Vietnam, which plans to build four nuclear reactors by 2035.

Vietnam approved an atomic power development plan in February, following a non-binding agreement on nuclear energy cooperation signed with Russia the month prior.

Vietnam and Russia have also agreed to boost cooperation in oil and gas industries, including the provision of Russian crude oil and liquefied natural gas to Vietnam, according to the joint statement.

The Vietnamese Government has approved Vietnam’s revised National Electricity Development Plan for the 2021-2030 period, with a vision to 2050 (PDP8), which now integrates the development of nuclear energy.

By 2050, Vietnam is targeting as much as 230 gigawatts of wind and 296 gigawatts of solar.

Vietnam and Russia are already cooperating in the nuclear sector on the construction of a Centre for Nuclear Science and Technology in Vietnam

Over the longer term, the Government had proposed to the relevant authorities to restart nuclear power projects and robust development of offshore wind energy.

A focus of this initiative is the exploration of nuclear power, prompted by the need to bolster base load power and minimise environmental impacts.

Following the summit meeting, President Putin said that “a promising area for expanding bilateral cooperation is nuclear energy”.

In the leaders' statements to the media after the summit, President Putin said that "a promising area for expanding bilateral cooperation is nuclear energy", while Vietnamese President To Lam said "we also agreed to explore opportunities for stepping up our cooperation on new energy sources and clean energy, as well as facilitate the green transition and sustainable development".