Ongoing collaboration between Russia and ASEAN nations in the energy sector is positioned to catalyse the development of a regional nuclear energy market, delivering extensive economic and strategic benefits, according to industry analysts.
Elena Burova, Senior Research Fellow at the Institute of China and Contemporary Asia, identified nuclear energy as one of the most dynamically evolving sectors in the global energy landscape. She highlighted that nuclear energy projects are not only capital-intensive but also deliver significant multiplier effects across national economies.
“A large-scale nuclear power plant in ASEAN could contribute as much as US$62 billion to regional GDP, create over 20,000 jobs during construction, and sustain 7,000 permanent roles in operations and related industries,” Burova said.
The remarks followed the 43rd ASEAN Senior Officials’ Meeting on Energy, convened earlier this month in Kuching, Sarawak. During the event, ASEAN and Russia launched the ASEAN–Russia Capacity Building on Energy Statistics project and renewed their energy cooperation framework for the period 2026–2028.
Elena Vikulova, Deputy Head of Russia’s Directorate of International Cooperation, underscored the potential for deeper engagement between ASEAN and Russia, given the region’s accelerating energy requirements.
Malaysia has also made notable strides in exploring nuclear energy. Deputy Prime Minister Fadillah Yusof confirmed in April that the International Energy Agency would support Malaysia in developing policies related to nuclear energy exploration. Yusof is currently on a working visit to Russia until 28 June, with nuclear cooperation high on the agenda. His visit follows Prime Minister Anwar Ibrahim’s earlier trip to Moscow, where nuclear energy emerged as a key area of bilateral interest.
The zero-emission and reliable nature of nuclear energy has gained increasing traction among ASEAN nations as they seek to advance their energy transition objectives.
In a related development, Bloomberg reported that Vietnam is seeking urgent negotiations with Russia to formalise an investment cooperation agreement concerning the Ninh Thuan 1 nuclear power project, targeted for discussion in August. The initiative was previously shelved in 2016 due to high costs and safety concerns but is being revisited to enhance energy security and support the country’s economic growth trajectory.
Burova noted that Russia, through its state-owned nuclear entity Rosatom, possesses significant expertise in nuclear development. Since its inception in 2007, Rosatom has constructed over 110 nuclear reactor units and is currently responsible for 22 out of 24 reactor builds under export contracts.
“Rosatom brings a competitive advantage by supporting local job creation across ASEAN economies,” Burova added. “This includes the localisation of manufacturing and engineering for heavy and specialised equipment, as well as sourcing local labour, construction materials and other site-specific resources.”
As energy demands in Southeast Asia continue to climb, nuclear energy cooperation with Russia could become a cornerstone of regional energy policy, bolstering long-term sustainability, employment and industrial capability.
-FMT
