BANDAR SERI BEGAWAN, Nov. 9 (Xinhua) -- Hengyi Industries Sdn. Bhd., the largest joint venture between Brunei and China, witnessed a Memorandum of Understanding (MoU) signed between Universiti Brunei Darussalam (UBD) and China's Zhejiang University, extending its scholarship program for another five years to nurture local petrochemical talents.
"The MoU serves as part of the continuous efforts to provide scholarship programs in order to continue to equip Bruneians with the necessary skills via industrial exposure in China, followed by industrial training internships and employment at Hengyi in Brunei," said a press release from Brunei's Department of Energy at the Prime Minister's Office and Petroleum Authority of Brunei Darussalam on Wednesday.
Hengyi Industries is a petrochemical joint venture between China's Zhejiang Hengyi Group and Damai Holdings, a wholly-owned subsidiary under the Brunei government's Strategic Development Capital Fund, owned 70 percent and 30 percent by the two companies respectively.
"Hengyi Industries' steadfast commitment towards advancing young local capabilities and talent throughout the years are evident through the close collaboration established with local higher institutions, and the high number of scholarships that have been awarded to local students, as well as the number of recruitments of local students under the programs so far," Haji Awang Halbi, Brunei's Minister at the Prime Minister's Office and Second Minister of Defense, said at the MoU signing ceremony.
With Hengyi's Pulau Muara Besar Phase 2 Development Project underway, "I believe that the strengthening of the skill sets of our locals is an important enabler for sustaining and delivering operational excellence," the minister added.
Qiu Jianlin, chairman of Zhejiang Hengyi Group, told Xinhua that over the years, Hengyi has been working closely with local institutions to develop and train local talents.
"This investment aims to ensure that these young talents are well-prepared to join our workforce upon the successful completion of the various scholarship and collaboration programs we have with local institutions, such as UBD, the Institute of Brunei Technical Education and Polytechnic Brunei," Qiu said.
As of the third quarter this year, 799 students have been trained through these scholarship and collaboration programs, and 150 students have joined Hengyi, he added. ■