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Have Identified Areas To Utilise $500 Million Defence Credit Line Offered By India, Says Vietnam Ambassador Chau
Prime Minister Modi meets Vietnamese Prime Minister Nguyen Xuan Phuc. (Narendra Modi/Flickr)
Two years after India offered Vietnam $500 million credit line for defence, Vietnam ambassador to India Mr Pham Sanh Chau said that the two countries have made substantial progress in public safety and defence cooperation and Vietnam has identified the areas where the credit line will be used, reports The Asian Age.
“We are now increasing cooperation in public security and defence. We have been able to identify the area we would like to use the $500b credit line in defence. We are also looking at joint production with India,” said the ambassador on Monday (4 November).
Vietnamese deputy minister of public safety senior lieutenant-general Bui Van Nam was in New Delhi on Monday (4 November) for talks with his Indian counterpart.
Among the things discussed were defence purchases and joint manufacturing.
In 2016 India and Vietnam announced Comprehensive Strategic Partnership (CSP) and in 2017 New Delhi gave $500 million credit line to Vietnam but this was not publicised because Vietnam did not want to antagonize its big neighbour China.
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