A deal to this effect was signed in Hanoi on May 21 during a visit to Vietnam by Norwegian State Secretary of the Ministry of Foreign Affairs Anne Stenhammer.

US$1.84 million of the total aid will be sourced from Norway's Government, while the remainder will come from Det Norske Veritas, Hoegh Autoliners and Jotun Paint, three of Norway's leading shipbuilders.

The project aims to equip the Vietnam Shipbuilding Industry Group (Vinashin) with new skills of shipbuilding management and quality control.

Addressing the signing ceremony, Minister of Planning and Investment Nguyen Hong Phuc said that Norway’s assistance would help Vietnam’s shipbuilding sector meet international standards as well as enabling it to win more contracts.

In return, Stenhammer said Norway was willing to transfer its advanced technology and rich experience to the industry of Vietnam with a view to providing a solid foundation for its sustainable development.