Venezuela signs deals with Vietnam
Venezuela has signed eight co-operation agreements with Vietnam which cover areas such as tourism, the economy and communications following a government meeting in Caracas on Friday.
According to Venezuelan President Hugo Chavez, his country's national petroleum group Petroleos de Venezuela will open a representative office in Hanoi to promote co-operation with the Viet Nam National Oil and Gas Group.
Furthermore, Vietnam will open a factory in Venezuela which will produce energy-saving lamps for local sale as well as other Caribbean and Latin American markets, reports Vietnamnews.com.
In news of interest to those with a Venezuela off plan property investment, President Hugo Chavez added that PetroVietnam is currently examining the size of the Junin oil field in the Orinoco range, which is thought to carry some of the largest reserve of petroleum in the world.
Additionally, the two companies are planning to develop a sea transport venture, to move oil to the refinery.
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