ONGC, PetroVietnam sign MoU

Prime Minister Narendra Modi and Vietnamese Prime Minister Nguyen Tan Dung on Tuesday witnessed the signing of seven agreements and memorandums of understanding (MoU) between New Delhi and Hanoi during the latter's state visit, including the signing of an MoU between Oil and Natural Gas Corporation (ONGC) and PetroVietnam.

The MoU between the two oil and natural gas companies signifies the strengthening of the partnership between India and Vietnam in the energy sector and will pave the way for future collaborations between the two nations in this area.

The other MoUs and agreements signed between the two nations were - firstly, an MoU on the establishment of Nalanda University; secondly, an MoU on establishing the centre for English language and information technology training at the Telecommunications University, Ministry of Defence, Vietnam; thirdly, an MoU on conservation and restoration of the world heritage site of My Son, Quang Nam Province, Vietnam; fourthly, an MoU on broadcasting between Prasar Bharati and Voice of Vietnam for exchange of audio visual programs; fifthly, Heads of Agreement between ONGC Videsh Limited and PetroVietnam; and sixthly, the establishment of a cultural exchange programme for 2015-17 between the Ministry of Culture of both nations.

Tuesday also witnessed the handing over of the licence between the State Bank of Vietnam and the Bank of India for the opening a full-fledged branch of the latter in Vietnam.

Vietnamese Prime Minister Dung is on a two-day state visit to India. During his visit, the leader witnessed the signing of seven agreements and memorandums of understanding (MoUs) between the two nations.

On Tuesday evening, he will attend a banquet hosted by Prime Minister Modi before departing.