Under the deal, Russia will initially build two power units in Vietnam with a capacity of 1.2 GW each. Overall, Vietnam plans to build eight nuclear power plants in five provinces by 2030, with a total capacity of 15 GW, or 10% of all electricity produced in the country. Each NPP would have from four to six generating units.

"This is a very important project, a large project designated for long use. In the final account, if we implement the ideas stipulated in the project and build the capacity designed for the nuclear power plant, the project will capture a considerable part of Vietnam's electricity market," Medvedev said after the signing ceremony in Hanoi.

"We believe that the project will allow Vietnam to develop as a modern and independent state, which does not only extract and refine oil but also uses other sources of energy. And it is very important in a contemporary world to be an independent, strong and modern state," Medvedev said.

Moscow has also pledged to provide Vietnam with a loan for the nuclear power plant construction.