Norway Provides US$3.9M for Shipbuilding Development

Funded by Norway, an agreement on the project worths US$3.9 million to support the Vietnamese shipbuilding industry was signed on May 22, 2007 between the Norwegian Ambassador, Kjell Storlokken, and Minister of Planning and Investment, Vo Hong Phuc. The Norwegian Foreign Affairs Department, Anne Stenhammer, was also there at the signing ceremony.
The project is funded US$1.8 million by the Norwegian government and the rest from three leading shipbuilding companies – Det Norske Veritas, Hoegh Autoliner, and Jotun Paint. It targets to improve technology, management and product quality control at the Vietnam’s shipbuilding industry group, Vinashin, to meet international standards.
Under Vietnam government strategy, Vinashin will build a national shipping vessel to meet local transport and 30 percent of transport demand for crude oil export which is expected to be US$1 billion by 2010.

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